AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline downwards
The bearish trend downwards to the next support line at 97.51300 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 98.74700 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three White Soldiers’ chart pattern is detected. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.74700 |
| Current Price | 97.72000 |
| Next Low | 97.51300 |
| 2nd Low | 96.70700 |
| 3rd Low | 95.65700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers