AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 96.37300 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 98.19400 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Southern Doji’ candle pattern is detected. The candles show ‘Southern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.16100 |
| 2nd High | 98.49900 |
| Next High | 98.19400 |
| Current Price | 97.42000 |
| Next Low | 96.37300 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Southern Doji