AUD/JPY Potential Upward Movement

AUD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 83.96, 84.26, 84.50

Key Support Levels: 83.10, 82.28, 82.00

Daily Chart:

The price on the higher time frame the price found support around the 83.00 USD level which led to a reversal and a move to the upside after posting a bullish engulfing pattern. The price retraced to the same and level and failed to closed below it which will lead to a move upward again.

AUD/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame the price managed to break the bullish flag to the upside after finding buyers around the 61.80% Fibonacci retracement level. a lower correction could be seen to the highlighted zone before the rally toward the target profit.

Signal Idea:

Buy Limit Order @ 83.37

TP 1 @ 83.95

TP 2 @ 84.26 

Stop Loss @ 83.18

Trade Safely 🙂