AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline downwards
A bearish movement downwards to the next support at 98.15100 will continue.
Caution: A possible change in the direction of the resistance line at 98.90500 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Belt Hold’ candlestick chart pattern is discovered. The candles show ‘Bullish Belt Hold’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ heading 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 | 98.63900 |
| Next Low | 98.15100 |
| 2nd Low | 97.52200 |
| 3rd Low | 97.49000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold