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AUD/JPY Potential Upward Movement

AUD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 84.94, 85.45, 85.65

Key Support Levels: 84.05, 83.42, 82.42

Daily Chart:

The price on the higher time frame it is trading inside a parallel channel pattern where the 82.42 & 84.94 USD levels are the support and resistance respectively. The price managed to bounce on the support and managed to break all the resistances and most probably it is heading toward the 84.94 USD level.

AUD/JPY Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is trading inside a bullish channel formation where the price is expected to post a correction count towards the area of confluence. This zone is made of a strong support and the lower end of the channel around the 84.04 USD mark. This could lead to a move upward again in the direction of the main trend.

Signal Idea:

Buy Limit Order @ 84.03

TP 1 @ 84.89

TP 2 @ 85.45

Stop Loss @ 83.64

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.

4 comments

  1. Muhammad Fauzi Ikhsan

    wait, i have bought this signal. but is in this free website ? so why i must paid ?

  2. So what time must I place the trade?

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