AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards
A bearish descent down to the next support level at 97.49000 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 98.73100 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Belt Hold’ chart pattern is found. The chart shows ‘Bearish Belt Hold’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.73100 |
| Current Price | 98.30600 |
| Next Low | 97.49000 |
| 2nd Low | 97.04900 |
| 3rd Low | 96.92900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Belt Hold