AUD/JPY – 4H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
An ascending movement up to the next resistance at 96.19500 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 94.39700 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 96.49300 |
| Next High | 96.19500 |
| Current Price | 95.77700 |
| Next Low | 94.39700 |
| 2nd Low | 93.96000 |
| 3rd Low | 93.84100 |
96.19500 – 96.49300 – 94.88600 – 94.39700 – 93.96000 – 93.84100 — 56.337759021139 – 57.286987527124 — 54.488786503151 – 55.517196155564 – 50.411425043853 – 52.029532971821
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji – Rising Wedge Chart Pattern – –