Market Instrument: AUDJPY
Timeframe: Daily
Analysis: Technical
Structure: Key level, Impulse, and Retracement
Prediction: Bullish
Price got pulled back after the breakout and a rally formed on the key level highlighted. The 4th impulse on this bullish trend is holding the 50% on fib retracement while the price has seated well on the key level we have spotted. If the future price action is willing to make a reversal with a good buying pressure will have a greater chance of seeing the price at 85 where the daily resistance has formed.
Timeframe: Daily
Analysis: Technical
Structure: Key level, Impulse, and Retracement
Prediction: Bullish
Price got pulled back after the breakout and a rally formed on the key level highlighted. The 4th impulse on this bullish trend is holding the 50% on fib retracement while the price has seated well on the key level we have spotted. If the future price action is willing to make a reversal with a good buying pressure will have a greater chance of seeing the price at 85 where the daily resistance has formed.