AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the bearish trendline down.
A continuation of the downtrend down to the next support at 96.44700 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 97.79400 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Three White Soldiers’ candlestick pattern is existing. 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 probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.02700 |
| 2nd High | 98.01100 |
| Next High | 97.79400 |
| Current Price | 96.97500 |
| Next Low | 96.44700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers