AUD/JPY Could Go Higher on a New Trend

AUD/JPY Could Go Higher on a New Trend

Dear Traders,

The AUD/JPY has a trend change and we could see the W H3 as the first target. However, the scope of a full move is also a bit higher.

72.60-90 is the POC zone where we should the price to bounce if it gets a retracement. It is supported by the bullish order block too (red line). The bullish bounce above the POC zone is targeting 73.80. A close above 73.80 should target M/W H4 Camarilla pivot and Wizz tool confluence between 74.26and 74.60.  72.00 is the strong support now and bulls should be safe as long as the price is above that level.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.