AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A bearish descent down to the next support level at 97.78000 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 98.40500 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Belt Hold’ chart pattern is detected. The chart shows ‘Bearish Belt Hold’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.72700 |
| 2nd High | 98.43800 |
| Next High | 98.40500 |
| Current Price | 98.26800 |
| Next Low | 97.78000 |
| 2nd Low | 97.74000 |
| 3rd Low | 97.73700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Belt Hold