AUD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 84.94, 85.45, 85.65
Key Support Levels: 84.05, 83.42, 82.42
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
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.
Buy Limit Order @ 84.03
TP 1 @ 84.89
TP 2 @ 85.45
Stop Loss @ 83.64
Trade Safely 🙂