AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
A bullish trend up to the next resistance line at 98.125 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 97.697 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Northern Doji’ candlestick chart pattern is existing. The candles show ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.419 |
| 2nd High | 98.382 |
| Next High | 98.125 |
| Current Price | 97.83000 |
| Next Low | 97.697 |
| 2nd Low | 97.424 |
| 3rd Low | 96.81 |
98.125 – 98.382 – 98.285 – 97.697 – 97.802 – 97.424 — 42.124316813557 – 47.223776371988 — 5.7184409540431 – 26.221640488656 – 14.358393559707 – 14.150727608077
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji – Double bottom chart pattern – –