AUD/JPY – 30M – BUY

The combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bullish trendline upwards

A continuation of the bullish trend up to the next resistance line at is expected.

Caution: A possible trend reversal in the direction of the support line at 108.822 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Outside Up’ candlestick pattern is detected. The chart shows ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

109.547 – 108.366 – 108.172 – 108.822 – 106.853 – 107.291 —
109.77400 – 110.02400 —
67.069510372713 – 71.580644030838 —
– —
109.547 – 1770111000

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up – Double top chart pattern – – – – – – – –