AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
An ascending movement up to the next resistance at 100.72100 is likely expected.
Caution: A possible counter-trend in the direction of the support line at 100.04700 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 100.90767 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance zone at 100.72100 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three White Soldiers’ candle pattern is discovered. The candles show ‘Three White Soldiers’. which is a bullish 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.13800 |
| 2nd High | 100.80000 |
| Next High | 100.72100 |
| Current Price | 100.66000 |
| Next Low | 100.04700 |
| 2nd Low | 99.48200 |
| 3rd Low | 99.41200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers