AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance level at 98.43800 is certain.
Caution: A possible counter-trend in the direction of the support level at 97.86300 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three White Soldiers’ chart pattern is existing. The candles show ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.72700 |
| Next High | 98.43800 |
| Current Price | 98.23400 |
| Next Low | 97.86300 |
| 2nd Low | 97.77900 |
| 3rd Low | 97.74000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers