AUD/JPY – 1H – BUY

The combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline up.

A bullish trend upwards to the next resistance level at 114.257 is likely expected.

Caution: A possible reversal of the trend in the direction of support at 113.709 should be noted.
Consider stop-loss settings accordingly.

Then a ‘StochRSI %K crosses above 0.2’ indicator layout is detected. The indicator shows ‘StochRSI %K crosses above 0.2’. which could be a positive chart scenario. The pair is likely to go up.

Then a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which is often a bullish signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 114.293 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 114.257 should be noted.
Consider stop-loss settings accordingly.

Then a ‘Bullish Belt Hold’ chart pattern is existing. The candles form ‘Bullish Belt Hold’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).

114.257 – 114.251 – 114.293 – 113.709 – 113.679 – 113.65 —
114.58600 – 114.26900 —
67.3179422971 – 40.815101621964 —
– —
114.257 – 1776942000

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold – – – – – – – – –