AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline down.
A descent downwards to the next support at 95.79700 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 98.74700 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Up’ candlestick chart pattern is existing. The candles form ‘Three Outside Up’. this is a bullish chart scenario. The 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 | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.74700 |
| Current Price | 98.40400 |
| Next Low | 95.79700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up