AUD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 85.12, 85.44, 86.00
Key Support Levels: 84.59, 84.13, 83.18
The price on the daily time frame is trending to the upside where it posted a wedge pattern as a retracement. The pair succeeded to break it to the upside by using bullish candlesticks with huge bodies showing that the bulls are in control. Further movement to the upside is expect in the coming hours.
AUD/JPY Medium-Term Trend: Bullish
On the lower time frame, the price retraced to the 61.80 % Fibonacci retracement after breaking the wedge pattern. It posted a double bottom formation, and the price now is trading around the neckline. A move to the upside might be seen toward the target profit.
Buy Limit Order @ 84.80
TP 1 @ 85.12
TP 2 @ 85.44
Stop Loss @ 84.63
Trade Safely 🙂