AUD/JPY – 1H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards
A descent downwards to the next support level at 96.95800 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 98.05700 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Up’ candlestick pattern is detected. The chart forms ‘Three Outside Up’. 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 likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.05700 |
| Current Price | 97.49200 |
| Next Low | 96.95800 |
| 2nd Low | 95.98200 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up