AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
An ascending movement upwards to the next resistance line at 95.94800 is considered certain.
Caution: A possible change in the direction of the support level at 95.36000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 96.195 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the resistance level at 95.94800 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Northern Doji’ candlestick chart pattern is detected. The candles form ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 96.49300 |
| 2nd High | 96.19500 |
| Next High | 95.94800 |
| Current Price | 95.89900 |
| Next Low | 95.36000 |
| 2nd Low | 95.13700 |
| 3rd Low | 94.57000 |
95.84000 – 95.94800 – 95.59100 – 95.36000 – 95.13700 – 94.57000 — 58.083774899002 – 62.467573545123 — 93.182346109175 – 97.158343012002 – 72.133921545153 – 85.083319562056
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji – Double top retreat up – –