AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the ascending trendline upwards
A continuation of the upward movement upwards to the next resistance line at 98.25800 will continue.
Caution: A possible reversal of the trend in the direction of the support zone at 97.78000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bullish Belt Hold’ candlestick pattern is detected. The candles show ‘Bullish Belt Hold’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.43800 |
| 2nd High | 98.40500 |
| Next High | 98.25800 |
| Current Price | 98.37300 |
| Next Low | 97.78000 |
| 2nd Low | 97.77900 |
| 3rd Low | 97.74000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold