AUD/JPY – 1H – BUYAdditionally a ‘Falling Wedge Chart Pattern’ chart pattern is existing. The chart forms ‘Falling Wedge Chart Pattern’. this is a bullish chart scenario. The currency pair is likely to go up.
The pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline upwards
The bullish trend up to the next resistance at 93.90700 is certain.
Caution: A possible counter-trend in the direction of the support level at 93.24000 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ candlestick pattern is discovered. The candles show ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. 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 | 94.51300 |
| Next Low | 93.24000 |
| 2nd Low | 92.31100 |
| 3rd Low | 92.05400 |
93.90700 – 94.71000 – 94.74500 – 93.24000 – 92.31100 – 93.23200
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji