AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance level at 93.32700 is expected.
Caution: A possible counter-trend in the direction of the support line at 92.80500 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Belt Hold’ candle pattern is existing. The candles show ‘Bullish Belt Hold’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 93.56100 |
| 2nd High | 93.54400 |
| Next High | 93.32700 |
| Current Price | 94.66100 |
| Next Low | 92.80500 |
| 2nd Low | 92.46400 |
| 3rd Low | 92.21400 |
93.32700 – 93.54400 – 92.80900 – 93.51400 – 92.80500 – 92.46400
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold