AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline upwards
An ascent up to the next resistance at 101.02600 will continue.
Caution: A possible trend reversal in the direction of the support level at 99.06100 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Current target is 99.649348 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance level at 101.02600 could happen.
Consider stop-loss settings accordingly.
And also a ‘Three White Soldiers’ candle pattern is discovered. The chart forms ‘Three White Soldiers’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 101.02600 |
| Current Price | 99.11900 |
| Next Low | 99.06100 |
| 2nd Low | 98.34100 |
| 3rd Low | 98.02200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers