Anticipating an upside break of Aussie, Bulls could be taking charge. Monthly, weekly & Daily Moving averages all crossed to upside, strong bullish engulfing pattern on the weekly at an ascending trendline. Inside bar formation on the Daily.
Moving averages on higher timeframes showing overall trend is Bullish.
Price currently in an ascending channel.
Price has bounced at 1.3000 weekly Support forming a Bullish Engulfing pattern.
Possible formation of new structure Higher Low, New Higher High expected.
Tight stop 2.8RR
USD/JPY SHORT price looks to be rejecting the 110.00 Resistance level, and also respecting the resistance of the sloping trend line. 3:1 Risk Reward.
Entry, sell stop signal just below the Kangaroo tail type candle at 109.80