AUD/JPY – 4H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
A bullish trend upwards to the next resistance line at 98.73100 is likely expected.
Caution: A possible change in the direction of the support level at 96.92900 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candlestick chart pattern is discovered. The chart shows ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 98.73100 |
| Current Price | 98.58800 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers