AUD/JPY – 1H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
The bullish trend up to the next resistance line at 97.08000 is certain.
Caution: A possible counter-trend in the direction of the support level at 96.33100 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three White Soldiers’ chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.53600 |
| 2nd High | 97.14200 |
| Next High | 97.08000 |
| Current Price | 96.76300 |
| Next Low | 96.33100 |
| 2nd Low | 95.90400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers