AUD/JPY – 1H – BUY

The currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline upwards

A bullish ascent up to the next resistance at 111.053 is considered certain.

Caution: A possible change in the direction of the support level at 110.063 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 111.48184 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance level at 111.053 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Outside Up’ candlestick pattern is found. The candles show ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

111.053 – 111.212 – 112.086 – 110.063 – 109.92 – 109.526 —
110.46200 – 110.89600 —
43.183347196166 – 55.780191655521 —
– —
111.053 – 1772722800

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up – – – – – – – – –