AUD/JPY – 30M – BUY

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

An ascending movement up to the next resistance line at 112.606 is likely expected.

Caution: A possible trend reversal in the direction of support at 111.158 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Up’ candlestick chart pattern is detected. The chart forms ‘Three Outside Up’. which is a bullish chart scenario. The pair is likely to go up. 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).

112.606 – 113.056 – 113.209 – 111.158 – 112.183 – 112.417 —
111.62300 – 111.44000 —
35.81470447896 – 34.711255774718 —
– —
112.606 – 1773900000

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up – – – – – – – – –