AUD/JPY – 4H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance line at 101.55400 is certain.
Caution: A possible change in the direction of the support level at 95.90400 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 99.151 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance line at 101.55400 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three White Soldiers’ candlestick pattern is discovered. The chart forms ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 102.39800 |
| Next High | 101.55400 |
| Current Price | 97.69200 |
| Next Low | 95.90400 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers