AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
A bullish ascent up to the next resistance level at 101.17200 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 100.68200 could occur.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three White Soldiers’ candlestick chart pattern is discovered. The candles show ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.34900 |
| 2nd High | 101.27700 |
| Next High | 101.17200 |
| Current Price | 101.14100 |
| Next Low | 100.68200 |
| 2nd Low | 100.45500 |
| 3rd Low | 100.13900 |