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MEX_Exchange

AUDJPY Has Made A Bullish Exit, 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 audjpynews forexsignals
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trendanalysis harmonicpatterns chartpattern audjpy aud jpy audjpyshort audjpylong audjpysell audjpydaily audjpynews forexsignals

AUDJPY has broken key resistance levels triggering a bullish exit from here. Good opportunity to start buying.

Buy above 81.46. Stop loss at 80.94. Take profit at 82.49.
Reason for the trading strategy (technically):
Price has broken out of key descending and horizontal resistance triggering a rally above 81.46 support (Fibonacci retracement, horizontal overlap support, breakout level) to push prices up to at least 82.49 resistance (Fibonacci retracement, horizontal swing high resistance). We have to be cautious about intermediate resistance at 82.09 (Fibonacci retracement, horizontal swing high resistance).
RSI (89) has made a similar bullish exit signalling that we’ll likely see a strong bullish acceleration from here.


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