AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline downwards
A descent downwards to the next support level at 96.37300 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 98.19400 is also possible.
Consider stop-loss settings accordingly.
Then a ‘Bearish Belt Hold’ candle pattern is found. The candles show ‘Bearish Belt Hold’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.16100 |
| 2nd High | 98.49900 |
| Next High | 98.19400 |
| Current Price | 97.62900 |
| Next Low | 96.37300 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Belt Hold