AUDJPY has finally broken out of a two week triangle, lifting above 85.880 and is signaling further gains to initial target of 86.420 & 86.700 & finally 87.840. Intraday dips should attract buyers, only a move below the lower triangle trendline will the breakout be considered a failure.
Our algorithm is putting the odds of hitting price targets at 62% over the next two days, although we like to see 85% chance or more the hourly chart is supporting our analysis with an 84% chance of hitting targets. We will be buyers on a pullback to 85.920.
Our algorithm is putting the odds of hitting price targets at 62% over the next two days, although we like to see 85% chance or more the hourly chart is supporting our analysis with an 84% chance of hitting targets. We will be buyers on a pullback to 85.920.
Trade closed manually:
Nice run higher, we liquidated our position at 86.390 picking up about 47 Pips.