AUD/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 98.197 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 98.19700 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Outside Up’ chart pattern is existing. The candles form ‘Three Outside Up’. this is a bullish signal. The currency 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 | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.19700 |
| Current Price | 98.15300 |
| Next Low | 97.54200 |
| 2nd Low | 97.00600 |
| 3rd Low | 96.95800 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up