AUD/JPY – 1H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance at 98.19700 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 97.54200 could happen.
Consider stop-loss settings accordingly.
Then a ‘Three White Soldiers’ candle pattern is detected. The candles form ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.19700 |
| Current Price | 97.96600 |
| Next Low | 97.54200 |
| 2nd Low | 97.00600 |
| 3rd Low | 96.95800 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers