AUD/JPY – 4H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline upwards
An ascending movement up to the next resistance level at 98.72700 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 95.79700 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Outside Up’ chart pattern is existing. The chart shows ‘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 success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 98.72700 |
| Current Price | 98.34800 |
| Next Low | 95.79700 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up