AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bearish trendline up.
A bullish movement upwards to the next resistance at 97.33500 is likely expected.
Caution: A possible change in the direction of the support level at 95.98200 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Outside Up’ candle chart pattern is detected. The chart forms ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to rise. 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 | 98.74700 |
| 2nd High | 98.34300 |
| Next High | 97.33500 |
| Current Price | 96.69900 |
| Next Low | 95.98200 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up