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AUD/JPY Potential Upward Movement

AUD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 85.36, 85.92, 86.78

Key Support Levels: 84.60, 83.92, 83.51

Daily Time-frame:

The price on the higher time frame has been moving in a structural upwards trend recently. The pair has continued to move upwards and broken a resistance level of 84.09 with good momentum and the price is sustaining above that level.

AUD/JPY Medium-Term Trend: Bullish

1-Hour Time-frame:

On the lower time frame, the price has shown a similar structural uptrend as the daily time frame. After a regular run, the pair did a retracement to the support level of 83.78 and bounced back from that level again.

Signal Idea:

Buy Stop Order @ 85.16

TP 1 @ 85.62

TP 2 @ 86.09

Stop Loss @ 84.70

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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