AUD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 83.55, 83.81, 84.01
Key Support Levels: 82.75, 82.57, 82.05
The price on the higher time frame has been moving in a higher-low, higher-high pattern after yesterday’s disturbance. Price has been respecting the trendline and now it broke a resistance level of 83.02. We expect the pair to sustain above this zone and continue the bullish move.
AUD/JPY Medium-Term Trend: Bullish
On the lower time frame, the price has shown a similar move as the hourly chart with higher-low, higher-high formation, and rejection wicks from the downside. The pair is starting to show momentum. Australian dollar’s bullishness shall help us in this trade.
Buy Limit Order @ 83.15
TP 1 @ 83.52
TP 2 @ 83.90
Stop Loss @ 82.79
Trade Safely 🙂