AUD/JPY – 1H – BUY

The currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the bearish trendline upwards

A bullish movement upwards to the next resistance at 108.996 is considered certain.

Caution: A possible counter-trend in the direction of the support line at 106.072 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘StochRSI %K line crosses above %D line’ indicator signal is found. The indicator shows ‘StochRSI %K line crosses above %D line’. which is often a bullish chart scenario. The pair is likely to go up.

Next a ‘Bullish Belt Hold’ candlestick pattern is existing. The candles form ‘Bullish Belt Hold’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).

108.996 – 106.585 – 106.817 – 106.072 – 106.294 – 105.908 —
106.72600 – 106.71000 —
40.606445810281 – 43.517836647593 —
– —
108.99600 – 1769158800

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Belt Hold – Double bottom chart pattern – – – – – – – –