Currently, AUD/JPY is trading at 74.45. The pair is consolidating in the resistance and support wedges. Previously, the pair was trading in an up trend and after touching the resistance level it started consolidating in the resistance and support levels. If the price breaks the resistance level at 74.53, then it may start a new up trend and its target price will be at 76.63. If the price breaks the support level at 72.69, then it may start a new down trend and its target price will be at 71.19.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and ideas.
Thank you,
Rishikesh Lilawat