AUD/JPY – 4H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
An ascending movement up to the next resistance line at 98.72700 is certain.
Caution: A possible counter-trend in the direction of support at 95.79700 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 98.727 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance line at 98.72700 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three White Soldiers’ candlestick pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 98.72700 |
| Current Price | 98.46300 |
| Next Low | 95.79700 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers