AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A descent downwards to the next support level at 113.709 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 114.706 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Belt Hold’ chart pattern is existing. The candles form ‘Bearish Belt Hold’. which is a negative chart scenario. The currency pair is likely to fall. 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 | |
| 2nd High | |
| Next High | 114.706 |
| Current Price | 114.36000 |
| Next Low | 113.709 |
| 2nd Low | 113.679 |
| 3rd Low | 113.65 |
114.706 – 114.257 – 114.251 – 113.709 – 113.679 – 113.65 —
114.67800 – 114.58100 —
59.342135301874 – 54.179490974887 —
– —
114.706 – 1777345200
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Belt Hold – – – – – – – – –