AUD/JPY – 4H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
An ascent up to the next resistance line at 99.16100 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 96.92900 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Three White Soldiers’ chart pattern is detected. The candles show ‘Three White Soldiers’. this 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 | 99.16100 |
| Current Price | 98.08700 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers