AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline downwards
The bearish trend downwards to the next support level at 97.18000 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 97.92300 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Belt Hold’ candle chart pattern is existing. The chart shows ‘Bullish Belt Hold’. which is a bullish pattern 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’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.73100 |
| Next High | 97.92300 |
| Current Price | 97.40000 |
| Next Low | 97.18000 |
| 2nd Low | 97.10200 |
| 3rd Low | 96.92900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold