AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance at 105.273 is expected.
Caution: A possible trend reversal in the direction of the support level at 104.558 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which is often a bullish signal. The currency pair is likely to rise.
Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is expected. Current target is 105.273 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the resistance level at 105.273 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 105.273 |
| Current Price | 105.13400 |
| Next Low | 104.558 |
| 2nd Low | 104.458 |
| 3rd Low | 104.429 |
105.089 – 105.273 – 104.835 – 104.558 – 104.617 – 104.458 —
104.89200 – 105.04300 —
50.605530886781 – 56.682802643382 —
– —
105.08900 – 1767582000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji – Double top retreat up – – – – – – – –