AUD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 83.87, 84.08, 84.50
Key Support Levels: 83.43, 83.34, 83.00
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
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.
Buy Limit Order @ 83.44
TP 1 @ 83.63
TP 2 @ 83.87
Stop Loss @ 83.37
Trade Safely 🙂