AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance at 97.95600 is expected.
Caution: A possible reversal of the trend in the direction of support at 97.55900 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Outside Up’ candle chart pattern is existing. 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 | 98.74700 |
| 2nd High | 98.05700 |
| Next High | 97.95600 |
| Current Price | 97.88900 |
| Next Low | 97.55900 |
| 2nd Low | 97.00600 |
| 3rd Low | 96.95800 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up