AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline upwards
A bullish trend upwards to the next resistance line at 98.23600 is expected.
Caution: A possible counter-trend in the direction of the support line at 97.74000 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish SBS White Lines’ chart pattern is discovered. The chart forms ‘Bearish SBS White Lines’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.72700 |
| Next High | 98.23600 |
| Current Price | 98.10900 |
| Next Low | 97.74000 |
| 2nd Low | 97.73700 |
| 3rd Low | 97.42700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish SBS White Lines