Description: As shown above we have FX:AUDJPY . At the opening last week i posted this pair with a Outlook, projecting a possible 300+ Pip
move to the upside Monthly Resistance 86.700.This target has been met, we are now at the 1.414 Fib extension from Monthly Support. Between the FIB extension levels
1.272 -1.414 was my initial expiration levels ( PRZ ). However i did state a break & close above Monthly Resistance would likely see price reach 90.000. Price reaching this
level would signal a highly likely long term trend change!
In short i am overall Long on this pair awaiting either a rejection at Monthly Resistance or a break & close above on the close above I'll await a Long Setup targets being
the FIB extension from the newly drawn FIB to the current high, The last target comes in around 90.000 which is where we could see a short term trend expiration (
demonstration then further Longs.
A break and close above Monthly Resistance would be Major as the monthly candle would see a rollover demonstrating clearly Bulls look to take over Long term.
Indicators: [50,200 ,RSI] On the Daily we are trading above the 50 & touching the 200.On the Weekly we are sitting below both EMA'S however on the Monthly we are strongly
above the 200. We are just about in Territory on the .
Duration: Long Term