BUY 73.80; TP1 74.50; TP2 75.00; SL 73.45
BUY 74.55; TP 75.00; TP2 76.00; SL 74.35
There are much optimistic progress in AUD/JPY – a higher low created last week, the close above the 100-day MA on Thursday (73.75) and the creation of the bullish “Growing three methods” pattern on the D1. On the H1, the pair is consolidating within a symmetric triangle. On H4, there’s bearish divergence. As a result, a short-term improvement down is likely before the pair resumes the advance. All in all, as long as it stays up 73.75, it will have an opportunity to rise to 74.50 (September highs) and 75.00 with the ultimate resistance at 76.00 (200-day MA).