AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bullish trendline up.
A continuation of the bullish trend up to the next resistance line at 93.32700 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 92.80500 should always be considered.
Consider stop-loss settings accordingly.
Then a ‘Northern Doji’ candlestick chart pattern is found. The chart shows ‘Northern Doji’. which is a bullish signal. The 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 93.56100 |
| 2nd High | 93.54400 |
| Next High | 93.32700 |
| Current Price | 94.01800 |
| Next Low | 92.80500 |
| 2nd Low | 92.46400 |
| 3rd Low | 92.21400 |
93.32700 – 93.54400 – 92.80900 – 92.80500 – 92.46400 – 92.21400
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji