AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline down.
A bearish descent downwards to the next support at 92.21400 is considered certain.
Caution: A possible change in the direction of the resistance line at 93.33600 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 93.561 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance line at 93.33600 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Three White Soldiers’ candlestick pattern is existing. The chart shows ‘Three White Soldiers’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
Furthermore 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 | 95.30700 |
| 2nd High | 93.56100 |
| Next High | 93.33600 |
| Current Price | 93.30700 |
| Next Low | 92.21400 |
| 2nd Low | 92.11000 |
| 3rd Low | 90.69100 |
93.33600 – 93.56100 – 93.47600 – 92.21400 – 92.11000 – 92.84100
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers