Besides a ‘Falling Wedge Chart Pattern’ chart formation is found. The chart picture shows ‘Falling Wedge Chart Pattern’. which is a positive signal. The pair is likely to go up.
The currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline upwards
An ascending movement up to the next resistance level at 94.34000 is likely expected.
Caution: A possible change in the direction of support at 93.84900 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ candle pattern is existing. The chart forms ‘Northern Doji’. 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 ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 94.83400 |
2nd High | 94.48400 |
Next High | 94.34000 |
Current Price | 94.36300 |
Next Low | 93.84900 |
2nd Low | 93.79900 |
3rd Low | 93.24000 |
94.34000 – 94.26100 – 94.48400 – 93.84900 – 93.79900 – 93.94000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji