AUD/JPY – 1H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline upwards
A continuation of the bullish trend up to the next resistance level at 98.40500 will continue.
Caution: A possible counter-trend in the direction of the support level at 97.90200 should always be considered.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Up’ chart pattern is discovered. The candles form ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.72700 |
| 2nd High | 98.43800 |
| Next High | 98.40500 |
| Current Price | 98.15100 |
| Next Low | 97.90200 |
| 2nd Low | 97.74000 |
| 3rd Low | 97.73700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up