AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance line at 98.90500 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 98.15100 could happen.
Consider stop-loss settings accordingly.
There is also a ‘Bearish SBS White Lines’ chart pattern is discovered. The chart forms ‘Bearish SBS White Lines’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.90500 |
| Current Price | 98.94000 |
| Next Low | 98.15100 |
| 2nd Low | 97.52200 |
| 3rd Low | 97.49000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish SBS White Lines