AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline upwards
A continuation of the upward movement up to the next resistance line at 98.40500 is likely expected.
Caution: A possible change in the direction of the support line at 97.90200 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 98.089 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance zone at 98.40500 could be enabled.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Up’ chart pattern is found. The candles show ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going 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 | 98.09900 |
| Next Low | 97.90200 |
| 2nd Low | 97.86300 |
| 3rd Low | 97.77900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up