AUDJPY Preparing For a Trip Down Under

AUDJPY has been trading in this descending channel on the weekly and daily charts for some time now. This trade maps out some potential opportunities within the channel. Recently, market broke minor trend, and support level at 84.00. Target 1 above 80.00 level (a key mental number) which also coincides with recent and distant key support levels. A potential Target 2 above 77.58 which will be a key of major level. Target 3 in the low 75.00's which is a retest of major structure, and the beginning of retesting the bottom of the channel.

Commentaire:

Approaching target 1