AUD/JPY – 4H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.
An ascent up to the next resistance level 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.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ candle pattern is found. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 96.49300 |
| Next High | 96.19500 |
| Current Price | 95.88500 |
| Next Low | 94.39700 |
| 2nd Low | 93.96000 |
| 3rd Low | 93.84100 |
96.19500 – 96.49300 – 94.88600 – 94.39700 – 93.96000 – 93.84100 — 58.341583647171 – 59.889821868552 — 57.947189425114 – 66.759401685343 – 52.51838861946 – 59.573244699029
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji – Rising Wedge Chart Pattern – –