AUD/JPY – 1H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline upwards
A bullish ascent upwards to the next resistance level at 100.67900 is likely expected.
Caution: A possible trend reversal in the direction of the support line at 99.41200 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Three White Soldiers’ chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.27700 |
| 2nd High | 101.19300 |
| Next High | 100.67900 |
| Current Price | 100.88500 |
| Next Low | 99.41200 |
| 2nd Low | 99.08000 |
| 3rd Low | 98.34100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers