AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline up.
A continuation of the uptrend up to the next resistance level at 101.13800 is certain.
Caution: A possible reversal of the trend in the direction of support at 100.29700 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 101.065008 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 101.13800 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three White Soldiers’ chart pattern is discovered. The chart forms ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. 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 | 101.55400 |
| 2nd High | 101.14200 |
| Next High | 101.13800 |
| Current Price | 100.56700 |
| Next Low | 100.29700 |
| 2nd Low | 99.48200 |
| 3rd Low | 99.41200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers