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AUD/JPY | Possible Bullish Continuation

AUD/JPY Long-Term Trend: Bullish

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Key Resistance Levels: 83.244, 83.499, 83.716

Key Support Levels: 82.568, 82.474, 82.152

4-Hour Chart: There may be more upside on this one as we have seen a double bottom and may now be making a play upwards. The diagonal resistance line above may be the next place we see bears come in if we can climb from here.

AUD/JPY Medium-Term Trend:Bullish

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30-minute Chart:

Since the double bottom, there seems to be a chance that we see further upside to at least the resistance levels of the wedge. We have already seen a bullish (a)-wave, a healthy pullback (b)-wave and may now be in the process of making a (c)-wave play.

Signal Idea:

Buy Limit order @ 82.637

TP 1 @ 83.124

TP 2 @ 83.382

Stop Loss @ 82.392

Trade Safely 🙂

About Patrick Mwenge

A chartered accountant and trader, Patrick has 7 years of financial market experience, covering commodities,FX, equities as well as crypto currencies. Patrick leverages both long term Elliot wave analysis alongside volume and time price opportunity to explore trading opportunities on both long and short term timeframes.

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