AUD/JPY: an upside breakout to push the price towards the North further

EagleFX Team EagleFX

AUD/JPY has been very bullish on the H4 chart. The pair started its trading day with a strong bullish move on the intraday charts as well. The price has been on consolidation. It may come down and make another bullish move to make a new higher high.

The chart shows that the price after being very bullish made a downside correction. It surged towards the resistance but did not make any breakout. It may come down towards the level of support. If it produces an H1 bullish reversal candle around the level of 75.7000 and makes a breakout at the level of 75.97035, it may head towards the level of 76.0990 with good bullish momentum.

Trade Summary

Entry: Buy above 75.97035

Stop Loss: Below 75.7000

Take Profit 1: 76.0990

Take Profit 2: 76.2010

Take Profit 3: 76.3650

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Author

EagleFX Team

EagleFX

EagleFX Team is an international group of market analysts with skills in fundamental and technical analysis, applying several methods to assess the state and likelihood of price movements on Forex, Commodities, Indices, Metals and

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