AUD/JPY – 4H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline down.
A descent down to the next support at 96.92900 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 99.16100 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bullish Belt Hold’ candle chart pattern is existing. The chart shows ‘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’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 99.16100 |
| Current Price | 97.87500 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold