AUD/JPY – 4H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 98.300308 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance line at 99.16100 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Bullish Belt Hold’ candlestick chart pattern is detected. The candles form ‘Bullish Belt Hold’. which is a positive signal. The currency pair is likely to go up. 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 | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 99.16100 |
| Current Price | 97.73700 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold