AUD/JPY – 30M – BUYMoreover a ‘Double bottom chart pattern’ chart pattern is detected. The chart shows ‘Double bottom chart pattern’. this is a bullish pattern signal. The currency pair is likely to rise.
The currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the ascending trendline upwards
A continuation of the bullish trend up to the next resistance at is certain.
Caution: A possible trend reversal in the direction of the support line at 100.40700 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Above the Stomach’ candle pattern is found. The candles show ‘Above the Stomach’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Above the Stomach’ heading up is 66% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 100.62200 |
| Next Low | 100.40700 |
| 2nd Low | 99.915 |
| 3rd Low | 99.154 |
100.607 – 100.201 – 99.673 – 100.40700 – 99.915 – 99.154 —
54.245393588875 – 59.7972934647 —
46.944234858358 – 25.090498702756 – 58.159039076326 – 45.591984169793
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Above the Stomach – Double bottom chart pattern – –