AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance level at 101.148 is likely expected.
Caution: A possible reversal of the trend in the direction of the support zone at 100.138 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Bullish Engulfing’ candlestick pattern is discovered. The chart forms ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.819 |
| 2nd High | 101.293 |
| Next High | 101.148 |
| Current Price | 101.34200 |
| Next Low | 100.138 |
| 2nd Low | 98.963 |
| 3rd Low | 98.82 |
101.148 – 101.131 – 101.293 – 100.138 – 100.6 – 100.769 —
100.96500 – 101.20500 —
58.055668117278 – 60.740229103707 —
– —
101.14800 – 1763406000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Engulfing – Double bottom chart pattern – – – –