AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the descending trendline up.
An ascending movement upwards to the next resistance level at 98.34300 will continue.
Caution: A possible counter-trend in the direction of the support zone at 97.54200 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Outside Up’ chart pattern is existing. The chart forms ‘Three Outside Up’. which 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 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 | 98.34300 |
| Current Price | 97.54700 |
| Next Low | 97.54200 |
| 2nd Low | 97.00600 |
| 3rd Low | 96.95800 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up