AUD / JPY has been trending up since may 2012.
Price has been trapped in a range at the top third of the last move up.
Chart below:
Price has recently broken out of the range.
Price has now produced a double bottom at 82.00.
Chart below:
Price has now broken up through the averages and I am looking for a long entry as shown below.
1st Entry: 83.15
2nd Entry: 83.00
Averaged Entry: 83.075
Stop Loss: 82.70
1st Target: 84.95 (5%)
2nd Target: 85.60 (6.6%)
Chart below:
I will update again should the trade be triggered
Regards
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