AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
An ascent up to the next resistance line at 105.57 is expected.
Caution: A possible counter-trend in the direction of the support level at 105.303 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘%K cross above 0.2’ indicator layout is discovered. The indicator shows ‘%K cross above 0.2’. which could be a positive chart scenario. The currency pair is likely to rise.
Moreover a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which could be a positive chart signal. The currency pair is likely to rise.
Moreover a ‘Latter Bottom’ chart pattern is detected. The candles show ‘Latter Bottom’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 105.928 |
| Next High | 105.57 |
| Current Price | 105.32900 |
| Next Low | 105.303 |
| 2nd Low | 105.228 |
| 3rd Low | 104.973 |
105.57 – 105.928 – 105.361 – 105.303 – 105.228 – 104.973 —
105.49200 – 105.36200 —
52.900263086895 – 38.628548892596 —
– —
105.57000 – 1767803400
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Latter Bottom – – – – – – – – –