AUD/JPY – 4H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
A descent downwards to the next support line at 95.79700 is expected.
Caution: A possible change in the direction of the resistance line at 98.73100 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Mat Hold’ candle pattern is detected. The chart forms ‘Mat Hold’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Mat Hold’ going up is 78% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 98.73100 |
| Current Price | 97.61100 |
| Next Low | 95.79700 |
| 2nd Low | 95.51400 |
| 3rd Low |