AUD/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 91.822352 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance zone at 91.67700 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Below The Stomach’ candlestick pattern is found. The chart shows ‘Below The Stomach’. 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 likelyhood of ‘Below The Stomach’ heading down is 60% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 93.13100 |
| 2nd High | 92.21600 |
| Next High | 91.67700 |
| Current Price | 91.41200 |
| Next Low | 90.58300 |
| 2nd Low | 90.54800 |
| 3rd Low | 89.63300 |
91.67700 – 92.21600 – 91.60000 – 90.58300 – 91.19600 – 91.33100
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Below The Stomach