AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
A bullish trend upwards to the next resistance at 97.00200 is likely expected.
Caution: A possible change in the direction of the support level at 96.33100 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bullish Tri-Star’ candle pattern is found. The candles form ‘Bullish Tri-Star’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Tri-Star’ going up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.53600 |
| 2nd High | 97.14200 |
| Next High | 97.00200 |
| Current Price | 96.71500 |
| Next Low | 96.33100 |
| 2nd Low | 95.90400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Tri-Star