AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline upwards
A bullish trend up to the next resistance level at 106.313 will persist.
Caution: A possible trend reversal in the direction of the support level at 105.209 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘%K crosses above %D’ indicator signal is detected. The indicator is ‘%K crosses above %D’. which is often a bullish chart scenario. The pair is likely to go up.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 106.061624 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance line at 106.313 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Bullish Belt Hold’ candle pattern is existing. The chart forms ‘Bullish Belt Hold’. which is a positive chart scenario. 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 | 106.711 |
| 2nd High | 106.325 |
| Next High | 106.313 |
| Current Price | 105.88700 |
| Next Low | 105.209 |
| 2nd Low | 105.175 |
| 3rd Low | 104.87 |
106.313 – 106.325 – 106.228 – 105.209 – 105.523 – 105.867 —
105.74900 – 105.82200 —
53.038269034895 – 59.079781755032 —
– —
106.31300 – 1768527000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold – Double bottom chart pattern – – – – – – – –