Currency Pair: AUD.JPY Time Frame: Weekly, Daily, 4hr & 1hr Predicted Direction: Long
AUD.JPY updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
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Now we have seen a strong run in price, i will be awaiting a consolidation period into early next week prior to a long opportunity.
We have a bullish view bias on AUDJPY. It has broken out of its strong resistance at 79.79 (61.8% Fibonacci extension and retracement) where we see it retracing back to before making a further move up. Ichimoku cloud is showing signs of bullish pressure as well. Here’s our idea!