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MEX_Exchange

AUDJPY strong resistance broken, time to start buying

Long
Australian Dollar / Japanese Yen (FX:AUDJPY)  
MEX_Exchange  
FX:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns AUDJPY aud jpy audjpyshort audjpylong audjpysell audjpydaily Forex forexsignals
82
3
trendanalysis harmonicpatterns chartpattern audjpy aud jpy audjpyshort audjpylong audjpysell audjpydaily forex forexsignals
Buy above 87.93. Stop loss at 87.20. Take profit at 88.82.
Reason for the trading strategy (technically):
Price has broken a strong resistance level which has led to a change in our momentum from bearish to bullish. We prepare to buy on dips above 87.93 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 88.82 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).
RSI (34) sees an ascending support channel supporting our bullish momentum view.
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