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AUD/JPY: another possibly stronger bullish signal

   
Another trade set-up has formed on AUD/JPY. The pair has been pulling-back after a bullish break-out move from a triangle.

The pull-back has reached support from the original upper border-line of the triangle and this level it is expected to provide the basis for a recovery.

Yesterday it formed a bullish hammer candlestick however the signal failed. I believe this new signal provides a better trading opportunity.

A break above the doji highs at 96.42 would probably provide confirmation of more upside, to a target at 96.92, calculated using the length of the candle extrapolated higher.
AUDJPY15

   
Another trade set-up has formed on AUD/JPY. The pair has been pulling-back after a bullish break-out move from a triangle.

The pull-back has reached support from the original upper border-line of the triangle and this level it is expected to provide the basis for a recovery.

Yesterday it formed a bullish hammer candlestick however the signal failed. I believe this new signal provides a better trading opportunity.

A break above the doji highs at 96.42 would probably provide confirmation of more upside, to a target at 96.92, calculated using the length of the candle extrapolated higher.
AUDJPY15



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