AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the bearish trendline up.
The bullish trend upwards to the next resistance level at 93.90700 is certain.
Caution: A possible counter-trend in the direction of the support line at 92.31100 could occur.
Consider stop-loss settings accordingly.
Next a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 94.74500 |
| 2nd High | 94.71000 |
| Next High | 93.90700 |
| Current Price | 93.08700 |
| Next Low | 92.31100 |
| 2nd Low | 92.05400 |
| 3rd Low | 92.00900 |
93.90700 – 94.71000 – 94.58500 – 92.31100 – 93.23200 – 93.30100
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji