AUD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 83.44, 83.95, 84.27
Key Support Levels: 82.38, 81.92, 81.55
The price on the higher time frame has been moving in a structural bullish trend recently. Price recently broke a trendline to the upside and then did a retest to the support level of 81.55. We can see that the pair bounced back from that level and there was a rejection wick that indicates a bullish trend.
AUD/JPY Medium-Term Trend: Bullish
On the lower time frame, the price was moving in an uptrend and then there were some wild candles due to news/profit booking. As of now, the pair looks to stabilize and continue the move upwards. Price is sustaining above the trendline and starting to show momentum.
Buy Limit Order @ 82.86
TP 1 @ 83.40
TP 2 @ 83.93
Stop Loss @ 82.45
Trade Safely 🙂