AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 98.90500 will persist.
Caution: A possible change in the direction of the support line at 97.52200 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Belt Hold’ candle pattern is detected. The candles show ‘Bullish Belt Hold’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.90500 |
| Current Price | 98.44900 |
| Next Low | 97.52200 |
| 2nd Low | 97.49000 |
| 3rd Low | 97.04900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold