AUD/JPY Potential Upward Movement

AUD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 95.07, 95.56, 96.12

Key Support Levels: 94.07, 93.73, 93.22

1-Hour Chart:

The price on the higher time frame has been in an uptrend for some time and has shown good momentum. Recently it did a pullback and found support at the 93.47 level. The pair has bounced back after testing that area which shows a bullish bias. 

AUD/JPY Medium-Term Trend: Bullish

15-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price has recently broken a consolidation zone of 93.73 and 94.07 after ranging for some time. It has now also broken and retested a minor level of 94.33 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 94.50

TP 1 @ 95.01

TP 2 @ 95.78

Stop Loss @ 93.99

Trade Safely 🙂