AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline upwards
A bullish trend up to the next resistance at 96.79500 is certain.
Caution: A possible counter-trend in the direction of the support line at 95.51400 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Outside Up’ chart pattern is found. The chart shows ‘Three Outside Up’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.08000 |
| 2nd High | 96.91500 |
| Next High | 96.79500 |
| Current Price | 95.97800 |
| Next Low | 95.51400 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up