AUD/JPY – 4H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
A bullish ascent up to the next resistance line at 97.79400 is certain.
Caution: A possible counter-trend in the direction of the support level at 95.98200 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three White Soldiers’ chart pattern is found. The chart shows ‘Three White Soldiers’. this is a bullish 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 White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 97.79400 |
| Current Price | 97.49200 |
| Next Low | 95.98200 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers