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AUD/JPY Potential Upward Movement

AUD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 83.55, 83.81, 84.01

Key Support Levels: 82.75, 82.57, 82.05

1-Hour Time-frame:

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

15-Minute Time-frame:

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.

Signal Idea:

Buy Limit Order @ 83.15

TP 1 @ 83.52

TP 2 @ 83.90

Stop Loss @ 82.79

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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