AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline upwards
An ascending movement up to the next resistance level at 98.49900 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 97.66400 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three White Soldiers’ candlestick chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive pattern 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 | 101.02600 |
| 2nd High | 99.16100 |
| Next High | 98.49900 |
| Current Price | 98.08900 |
| Next Low | 97.66400 |
| 2nd Low | 97.49000 |
| 3rd Low | 97.04900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers