AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline up.
An ascending movement upwards to the next resistance at 108.996 is certain.
Caution: A possible change in the direction of the support line at 106.072 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Belt Hold’ candlestick chart pattern is existing. The candles form ‘Bullish Belt Hold’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 108.996 |
| Current Price | 106.76300 |
| Next Low | 106.072 |
| 2nd Low | 105.908 |
| 3rd Low | 105.209 |
108.996 – 106.585 – 106.817 – 106.072 – 106.294 – 105.908 —
106.74700 – 106.76300 —
40.722361483149 – 46.927623625041 —
– —
108.99600 – 1769158800
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold – – – – – – – – –