AUD/JPY – 30M – BUY

The 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 109.547 is certain.

Caution: A possible counter-trend in the direction of the support level at 108.822 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Outside Up’ candle chart pattern is discovered. The chart shows ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

109.547 – 108.366 – 108.172 – 108.822 – 106.853 – 107.291 —
109.38000 – 109.71800 —
56.88465324713 – 64.145668109479 —
– —
109.547 – 1770111000

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up – – – – – – – – –