AUDJPY: Support Zone and Possible Buy Opportunity

The market should be added to a watchlist. The price reached the support zone formed by the daily uptrend line, 74.850 support level, and SMA200. We can see two bullish candles which confirmed the price reversal. The same goes about RSI and MACD histogram. The market looks oversold, and an upward movement will be logical in spite of the previous bearish candle. Maybe the price will try to move below the support zone. But it won't give us a good sell opportunity. Based on the daily timeframe, the price is at SMA200, which acts as a support line.
Buying looks more interesting in this market, and it will be in the direction of a new uptrend.

Pending orders for buy should be placed above the local swing high. Stop orders must be placed below the support zone. Profit targets should be at the resistance levels. Don't forget about proper risk and money management.