AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
A bearish descent downwards to the next support at 97.83600 is likely expected.
Caution: A possible change in the direction of the resistance line at 98.25800 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three White Soldiers’ candlestick pattern is existing. The chart forms ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.43800 |
| 2nd High | 98.40500 |
| Next High | 98.25800 |
| Current Price | 98.15100 |
| Next Low | 97.83600 |
| 2nd Low | 97.77900 |
| 3rd Low | 97.74000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers