AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline up.
A continuation of the bullish trend up to the next resistance line at 91.16600 will continue.
Caution: A possible change in the direction of support at 90.48000 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Northern Doji’ chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Besides a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which is often a bullish signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 91.31300 |
| 2nd High | 91.20200 |
| Next High | 91.16600 |
| Current Price | 90.73600 |
| Next Low | 90.48000 |
| 2nd Low | 90.30100 |
| 3rd Low | 90.13400 |
91.16600 – 90.81400 – 91.20200 – 90.48000 – 90.30100 – 90.13400
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji