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AUD/JPY Potential Upward Movement

AUD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 83.44, 83.95, 84.27

Key Support Levels: 82.38, 81.92, 81.55

Daily Time-frame:

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

1-Hour Time-frame:

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.

Signal Idea:

Buy Limit Order @ 82.86

TP 1 @ 83.40

TP 2 @ 83.93

Stop Loss @ 82.45

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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