AUD/JPY: Bulls Are Looking To Break Positive Resistance Level 185.00.

GENERAL OVERVIEW:  The pair are looking for the positive resistance level towards the positive side in the market. The pair needs to correct some downside falls and create the demand zone in the market. The pair moves towards the buy-side in the market and creates the movement towards the higher side in the market. The pair seems bullish on the daily chart as the trend is towards the buy-side in the market. The pair seems bullish and creating swings towards the higher side in the market. The market-creating positive moves and creating the trend towards the higher side in the market. The pair is standing towards the monthly month high and we can see the market is touching the top this time 85.00 and expected movement further on.

Technical analysis: From the technical point of view we can say that market is creating higher highs in the market and making the buy signals in the market. The daily overview gives us a proper view that the market is going the break the resistance level 85.00 and creating fresh multi-month highs. On the bias of 4 hourly charts marketable to find breakout at level 82.10 and further on creates the buy-side in the market. If the pair breaks key resistance line level 85.00 and makes the higher side in the market. Odds are in favoring the bulls and the RSI shows the potential movement above 50 levels and creates the bullish side as well as MACD also above the zero lines and creates buy signals in the chart. The support of the market is 84.00 followed by 83.60 and resistance is 85.00 followed 85.50.

Trade idea: Our traders will sit on the buy-side at level 84.50 and target will be 85.00-85.40 and stop loss will be 84.00.

 

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