AUD/JPY – 4H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance line at 99.16100 will continue.
Caution: A possible trend reversal in the direction of support at 96.92900 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Outside Up’ candle chart pattern is found. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 99.16100 |
| Current Price | 98.00000 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up