AUD/JPY – 30M – BUY

The pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline upwards

A bullish ascent up to the next resistance line at 98.125 will persist.

Caution: A possible reversal of the trend in the direction of the support line at 97.424 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Northern Doji’ candle pattern is detected. The chart forms ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

98.125 – 98.382 – 98.285 – 97.697 – 97.802 – 97.424 — 39.739952603312 – 48.087831245459 — 32.101108917118 – 49.143678305461 – 34.163185719305 – 38.666766722004

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji – Double bottom chart pattern – –