AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards
A bearish movement down to the next support level at 97.52200 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 98.49900 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Line Strike – Bullish’ candle pattern is detected. The chart shows ‘Three Line Strike – Bullish’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.16100 |
| 2nd High | 98.65600 |
| Next High | 98.49900 |
| Current Price | 97.87500 |
| Next Low | 97.52200 |
| 2nd Low | 97.49000 |
| 3rd Low | 97.04900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Line Strike – Bullish