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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 🙂

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.

2 comments

  1. Benice Van Vuuren

    Why dont you publish the results of this trading idea on telegram as it hit SL?

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