AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline upwards
An ascent upwards to the next resistance line at 98.01100 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 96.26700 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 97.507 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 98.01100 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three White Soldiers’ candle pattern is existing. The chart shows ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to go up. 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 | 98.74700 |
| 2nd High | 98.02700 |
| Next High | 98.01100 |
| Current Price | 97.08800 |
| Next Low | 96.26700 |
| 2nd Low | 95.65700 |
| 3rd Low | 95.31700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers