Buy AUD/JPY – 4H – BUY

The currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline down.

A descending movement downwards to the next support line at 86.04000 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 91.40300 is within the realm of possibility.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 88.247072 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 91.40300 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘Northern Doji’ candle pattern is detected. The candles form ‘Northern Doji’. 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 ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

Support & Resistance Price Range*
3rd High 95.39200
2nd High 95.30700
Next High 91.40300
Current Price 90.69000
Next Low 86.04000
2nd Low
3rd Low

91.40300 – 91.31600 – 95.30700 – 86.04000 – 86.11200 – 93.04600

Download AUD/JPY Signal Image

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