AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance level at 95.30700 will continue.
Caution: A possible trend reversal in the direction of the support zone at 92.80500 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Northern Doji’ candle pattern is found. The candles form ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.74300 |
| 2nd High | 95.39200 |
| Next High | 95.30700 |
| Current Price | 94.75700 |
| Next Low | 92.80500 |
| 2nd Low | 92.21400 |
| 3rd Low | 92.11000 |
93.54400 – 93.33600 – 93.56100 – 92.80500 – 92.21400 – 92.11000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji