AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline upwards
A continuation of the upward movement upwards to the next resistance line at 98.43800 is likely expected.
Caution: A possible counter-trend in the direction of support at 97.86300 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish SBS White Lines’ candle pattern is detected. The candles show ‘Bearish SBS White Lines’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.72700 |
| Next High | 98.43800 |
| Current Price | 98.00600 |
| Next Low | 97.86300 |
| 2nd Low | 97.77900 |
| 3rd Low | 97.74000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish SBS White Lines