AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline downwards
A descent downwards to the next support at 95.61100 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 97.79400 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Up’ candle chart pattern is discovered. The candles show ‘Three Outside Up’. which 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 likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.02700 |
| 2nd High | 98.01100 |
| Next High | 97.79400 |
| Current Price | 96.93000 |
| Next Low | 95.61100 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up