AUD/JPY – 4H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at 95.30700 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 90.58300 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ candlestick pattern is found. The candles form ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
And also a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. this is usually a bullish chart signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.74300 |
| 2nd High | 95.39200 |
| Next High | 95.30700 |
| Current Price | 93.38500 |
| Next Low | 90.58300 |
| 2nd Low | 89.63300 |
| 3rd Low | 86.04000 |
92.21600 – 91.40300 – 91.31600 – 90.58300 – 89.63300 – 86.04000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji