AUD/JPY Potential Upward Movement

AUD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 96.02, 96.79, 97.68

Key Support Levels: 95.09, 94.82, 94.20

Daily Chart:

The price on the higher time frame has been in an uptrend for a few months and recently it did a pullback and found support at the 92.10 level. It has bounced back after testing that level and has broken a resistance level of 94.63 with good momentum which indicates trend continuation.

AUD/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price has broken the upper range of a consolidation zone after ranging for some time between 94.20 and 94.82. The pair has also broken and retested another level of 95.09 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 95.47

TP 1 @ 95.96

TP 2 @ 96.70

Stop Loss @ 94.98

Trade Safely 🙂