AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
A bullish trend upwards to the next resistance line at 97.14200 is certain.
Caution: A possible trend reversal in the direction of support at 95.90400 could occur.
Consider stop-loss settings accordingly.
Then a ‘Three White Soldiers’ chart pattern is detected. The candles show ‘Three White Soldiers’. which is a bullish chart scenario. 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’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.01100 |
| 2nd High | 97.53600 |
| Next High | 97.14200 |
| Current Price | 96.81100 |
| Next Low | 95.90400 |
| 2nd Low | 95.65700 |
| 3rd Low | 95.31700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers