informedtrades
Long

Signs of Bulls Stepping in on AUDJPY

FX:AUDJPY   Australian Dollar / Japanese Yen
52 0 0
Like we're seeing on CADJPY             , we are seeing AUDJPY             price near its 50 SMA , where a support level also exists, where long wick candlesticks are forming (suggesting buyers are stepping in), and where we have a 50% Fibonacci retracement level from the recent swing low to swing high. I've set my entry order in the midst of this confluence at 94.71, while my stop loss is well beyond these levels at 94.20. My target profit is at resistance at 96.45.

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