Long-legged dojis on the monthly and on weekly occurred while bulls shrug-off these patterns to break above major resistances on both time frames.
You are probably seeing streaks of AUDJPY from the last couple of months despite the formation of and at 81.275 and 80.393 levels respectively on weekly charts, a long-legged occurred at 77.525 levels on the monthly terms.
The bulls in intermediate trend break above channel resistance or 81.520 levels (see monthly plotting), the sustenance above may extend upswings, watch out for more rallies up to next targets of 86.379 levels.
The current prices have gone above SMAs on weekly and 7EMA on monthly terms, please also be advised that the both leading indicators converge to the prevailing upswings.
signals strength in the uptrend, while curves have been indicating healthy buying momentum on both time frames. We see the strength in buying interest confirmed as converging to the corresponding upswings above 63 levels on weekly and above 47 levels on monthly terms.
Additionally, crossover signals uptrend to be extended further in the weeks to come, while 7SMA crosses over 21SMA which is a signal.
Trade tips: Well, as a result of above technical reasoning, we recommend adding longs in contracts of mid-month expiries for targets of 85.646 and 86.379 levels but with a strict stop loss at 81.520 and 79.840 levels.