AUD/JPY – 1H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline upwards
An ascending movement up to the next resistance at 101.55400 is expected.
Caution: A possible change in the direction of the support zone at 100.29700 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 101.048488 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance level at 101.55400 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three White Soldiers’ candlestick pattern is detected. The chart forms ‘Three White Soldiers’. 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 chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 102.39800 |
| Next High | 101.55400 |
| Current Price | 100.72200 |
| Next Low | 100.29700 |
| 2nd Low | 99.48200 |
| 3rd Low | 99.41200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers