AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support line at 86.04000 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 90.36800 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Belt Hold’ candle pattern is detected. The chart forms ‘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 success rate of a ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 91.31600 |
| 2nd High | 91.10100 |
| Next High | 90.36800 |
| Current Price | 89.38400 |
| Next Low | 86.04000 |
| 2nd Low | |
| 3rd Low |
90.36800 – 91.10100 – 91.31600 – 86.04000 – 86.11200 – 92.27800
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Belt Hold