AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.
A descent down to the next support line at 97.00600 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 98.34300 could happen.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Outside Up’ candlestick chart pattern is discovered. The candles show ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.34300 |
| Current Price | 97.23900 |
| Next Low | 97.00600 |
| 2nd Low | 96.95800 |
| 3rd Low | 96.64000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up