AUD/JPY – 30M – BUYBesides a ‘Double bottom chart pattern’ chart formation is found. The chart forms ‘Double bottom chart pattern’. which is a positive chart scenario. The currency pair is likely to go up.
The combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the ascending trendline upwards
A continuation of the uptrend up to the next resistance line at 101.683 will persist.
Caution: A possible trend reversal in the direction of the support line at 101.101 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ chart pattern is discovered. The candles show ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 101.819 |
| Next High | 101.683 |
| Current Price | 101.83500 |
| Next Low | 101.101 |
| 2nd Low | 100.586 |
| 3rd Low | 100.138 |
101.683 – 101.428 – 101.148 – 101.101 – 100.586 – 100.626 —
101.34300 – 101.60200 —
54.051405589359 – 60.372185029223 —
– —
101.68300 – 1763571600
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji – Double bottom chart pattern – – – –