AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 90.58300 is certain.
Caution: A possible change in the direction of the resistance line at 91.54000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 91.770646 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the resistance line at 91.54000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which could be a positive chart signal. The currency pair is likely to rise.
Next a ‘Northern Doji’ candlestick pattern is discovered. The chart shows ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Next a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which is often a bullish signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 91.94900 |
| 2nd High | 91.67700 |
| Next High | 91.54000 |
| Current Price | 91.36300 |
| Next Low | 90.58300 |
| 2nd Low | 90.54800 |
| 3rd Low | 89.63300 |
91.54000 – 91.67700 – 91.94900 – 90.58300 – 91.19600 – 91.47300
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji