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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 🙂

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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