AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
A bullish trend upwards to the next resistance line at 97.89000 is certain.
Caution: A possible change in the direction of the support level at 97.49000 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Up’ candle pattern is discovered. The chart forms ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.73100 |
| 2nd High | 98.03200 |
| Next High | 97.89000 |
| Current Price | 97.71100 |
| Next Low | 97.49000 |
| 2nd Low | 97.04900 |
| 3rd Low | 96.92900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up