AUD/JPY – 1H – BUY

The pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bullish trendline up.

A continuation of the upward movement up to the next resistance level at 114.257 is likely expected.

Caution: A possible counter-trend in the direction of the support level at 113.709 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘StochRSI %K line crosses above %D line’ indicator signal is discovered. The indicator shows ‘StochRSI %K line crosses above %D line’. this is usually a bullish chart scenario. The pair is likely to go up.

Furthermore a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which could be a positive signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 114.293 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance level at 114.257 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘Three Outside Up’ candle chart pattern is found. The chart shows ‘Three Outside Up’. 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 ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

114.257 – 114.251 – 114.293 – 113.709 – 113.679 – 113.65 —
114.01500 – 114.21400 —
54.054573718592 – 55.254978940349 —
– —
114.257 – 1776942000

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