AUD/JPY – 4H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
A bearish movement down to the next support line at 95.51400 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 97.79400 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 98.534 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance level at 97.79400 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Three White Soldiers’ candlestick pattern is discovered. The chart shows ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 97.79400 |
| Current Price | 97.12500 |
| Next Low | 95.51400 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers