Breaking News

AUD/JPY Potential Upward Movement

AUD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 84.95. 85.45, 86.00

Key Support Levels: 84.37, 83.87, 83.17

Daily Chart:

The price on the higher time frame was in a clear uptrend where it managed to break the daily resistance around the 84.37 USD mark. A lower correction has been posted toward the new daily support (previously resistance). After this move, we are expecting further movement to the upside in the same direction of the main trend.

AUD/JPY Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hr time frame, the coin succeeded to break the flag formation to the upside, and it broke the resistance around the 84.37 USD level. We are expecting a slight retracement to the new support (previously resistance) and then a move to the upside toward our target profit.

Signal Idea:

Buy Limit Order @ 84.53

TP 1 @ 84.94

TP 2 @ 85.45

Stop Loss @ 84.34

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!

Free Robot!