AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
An ascending movement up to the next resistance level at 97.08000 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 95.51400 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The chart forms ‘Bearish SBS White Lines’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.53600 |
| 2nd High | 97.14200 |
| Next High | 97.08000 |
| Current Price | 95.89900 |
| Next Low | 95.51400 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish SBS White Lines