AUD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 81.50, 82.40, 83.00
Key Support Levels: 80.47, 79.56, 79.00
The price on the higher time frame failed to break the 80.47 USD mark, and it posted a higher low which signals a potential reversal and then a move to the upside in the opposite direction of the main trend.
AUD/JPY Medium-Term Trend: Bullish
On the lower time frame, the price succeeded to break the bullish flag formation to the upside after testing the 80.47 USD level. The market has moved higher and we expect a lower correction to the highlighted zone before a new impulsive wave to the upside.
Buy Limit Order @ 81.045
TP 1 @ 81.486
TP 2 @ 82.400
Stop Loss @ 80.877
Trade Safely 🙂