Breaking News

AUD/JPY Potential Upward Movement

AUD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 83.87, 84.08, 84.50

Key Support Levels: 83.43, 83.34, 83.00

Daily Chart:

The price on the higher time frame found support around the 83.03 USD mark and the buyers managed to take over the sellers around the 61.80% Fibonacci retracement which coincides with the bespoke support. This will lead to a reversal and then a move upward.

AUD/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is ranging inside a wedge formation where we expect a lower correction before breaking it to the upside and rally toward the mentioned target profit mentioned below.

Signal Idea:

Buy Limit Order @ 83.44

TP 1 @ 83.63

TP 2 @ 83.87

Stop Loss @ 83.37

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!

Free Robot!