AUD/JPY – 4H – 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 at 93.56100 is expected.
Caution: A possible change in the direction of the support level at 92.11000 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.39200 |
| 2nd High | 95.30700 |
| Next High | 93.56100 |
| Current Price | 94.73400 |
| Next Low | 92.11000 |
| 2nd Low | 90.58300 |
| 3rd Low | 89.63300 |
93.56100 – 92.21600 – 91.40300 – 92.11000 – 90.58300 – 89.63300
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji