AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.
A bearish descent downwards to the next support level at 99.41200 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 101.19300 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 100.3445 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 101.19300 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ chart pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish 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 White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.30800 |
| 2nd High | 101.27700 |
| Next High | 101.19300 |
| Current Price | 99.97400 |
| Next Low | 99.41200 |
| 2nd Low | 99.08000 |
| 3rd Low | 98.74200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers