AUD/JPY – 4H – BUY

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will persist. Current target is 112.3405 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 112.626 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Shooting Star’ chart pattern is detected. The candles form ‘Shooting Star’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).

112.626 – 111.992 – 113.437 – 111.237 – 111.341 – 112.467 —
112.10800 – 111.87600 —
51.422625506321 – 50.095718364289 —
– —
112.626 – 1782835200

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Shooting Star – – – – – – – – –