AUD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 83.826, 84.512, 84.609.
Key Support Levels: 83.132, 82.458, 82.203.
Daily Time Frame:
The price on the higher time frame is in a clear upward movement where higher highs and lows has been posted. Recently the market corrected to the support level where a new impulsive wave will push the price to the upside toward the next key resistance level.
AUD/JPY Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the price is traded inside a bullish channel formation. An inverse head and shoulders has been posted near the support level around 83.10 JPY mark which could lead to a move upward toward the target profits. A lower correction could be posted before a new impulsive wave will be posted.
Buy Limit Order @ 83.100
TP 1 @ 83.725
TP 2 @ 84.512
Stop Loss @ 82.788
Trade Safely 🙂