AUD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 84.94, 85.44, 86.00
Key Support Levels: 84.62, 84.13, 84.00
The price is in a clear uptrend where it posted a big retracement with a form of a wedge around the 84.13 USD mark. The support halted the price to move to the downside and pushed it to the upside by breaking the wedge pattern. We are expecting further movement to the upside in the coming hours.
AUD/JPY Medium-Term Trend: Bullish
On the lower time frame, the price posted a double bottom which led to the breakout and now it is trading above the relevant zone (highlighted area). A lower correction might be seen toward this area before a rally toward the target profit.
Buy Limit Order @ 84.63
TP 1 @ 84.94
TP 2 @ 85.44
Stop Loss @ 84.47
Trade Safely 🙂