AUD/JPY – 1H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at 97.74 is likely expected.
Caution: A possible change in the direction of the support zone at 96.81 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Northern Doji’ candle chart pattern is found. The candles show ‘Northern Doji’. which is a positive 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 | 99.161 |
| 2nd High | 98.759 |
| Next High | 97.74 |
| Current Price | 97.76800 |
| Next Low | 96.81 |
| 2nd Low | 96.306 |
| 3rd Low | 95.76 |
97.74 – 97.322 – 97.425 – 96.81 – 97.044 – 96.306 — 63.236011291966 – 66.909723826201 — 83.584147730679 – 82.898654995304 – 91.535493862999 – 86.032336071307
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji – Double bottom retreat down – –