AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.
A bearish trend downwards to the next support level at 98.15100 is certain.
Caution: A possible change in the direction of resistance at 99.16100 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Belt Hold’ candle pattern is detected. The candles form ‘Bullish Belt Hold’. which is a positive chart scenario. 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’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 99.16100 |
| Current Price | 98.29700 |
| Next Low | 98.15100 |
| 2nd Low | 97.52200 |
| 3rd Low | 97.49000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold