AUD/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 93.544 at the Fibonacci level 0-Level. Caution: A possible change in the direction of resistance at 93.56100 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Latter Bottom’ candle pattern is found. The chart forms ‘Latter Bottom’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
Additionally a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. this is usually a bullish chart signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.39200 |
| 2nd High | 95.30700 |
| Next High | 93.56100 |
| Current Price | 93.68900 |
| 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 – Latter Bottom