AUD/JPY – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 100.9045 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 100.68100 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three White Soldiers’ candle chart pattern is found. The candles form ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.14200 |
| 2nd High | 101.13800 |
| Next High | 100.68100 |
| Current Price | 100.61600 |
| Next Low | 100.25500 |
| 2nd Low | 99.48200 |
| 3rd Low | 99.41200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers