AUD/JPY – 4H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.
A descending movement downwards to the next support line at 96.92900 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 99.16100 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three White Soldiers’ candle pattern is detected. The chart shows ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 99.16100 |
| Current Price | 97.13900 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers