AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
An ascent up to the next resistance level at 101.02600 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 97.70600 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Current target is 99.63 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 101.02600 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candlestick chart pattern is discovered. The chart forms ‘Three White Soldiers’. which is a positive 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 | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 101.02600 |
| Current Price | 98.67800 |
| Next Low | 97.70600 |
| 2nd Low | 97.62000 |
| 3rd Low | 96.70700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers