AUD/JPY – 1H – BUY

The currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the ascending trendline up.

A continuation of the bullish trend upwards to the next resistance level at 112.086 is certain.

Caution: A possible trend reversal in the direction of the support level at 110.121 is within the realm of possibility.
Consider stop-loss settings accordingly.

Additionally a ‘StochRSI %K line crosses above %D line’ indicator layout is existing. The indicator shows ‘StochRSI %K line crosses above %D line’. which is often a bullish chart signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 112.086 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance level at 112.086 is within the realm of possibility.
Consider stop-loss settings accordingly.

Additionally a ‘Three Outside Up’ chart pattern is detected. The chart forms ‘Three Outside Up’. which is a bullish chart scenario. The pair is likely to go up. 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).

111.107 – 111.053 – 111.212 – 110.121 – 110.063 – 109.92 —
111.22100 – 111.50200 —
59.75824704495 – 61.279953858733 —
– —
111.107 – 1772784000

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