AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline downwards
A continuation of the downward movement down to the next support level at 95.79700 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 98.73100 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Belt Hold’ candle pattern is existing. The chart shows ‘Bearish Belt Hold’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.73100 |
| Current Price | 97.28300 |
| Next Low | 95.79700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Belt Hold