The AUD/JPY is trading within a symmetrical triangle on the 4hr chart and this is set within an ascending triangle on the daily chart whilst still trading under the key 89 S/R level. Price is trying to break up through both the 4hr and daily Ichimoku Clouds and any success there would support the 4hr chart’s triangle breakout and then, perhaps, a test of the 89 level and the daily chart’s triangle. Any move from the 4hr triangle upper TL to the 89 level would be worth over 150 pips and, thus, is well worth stalking!
A/J 4hr: keep an eye on the triangle trend lines and for any uptick with momentum:
A/J daily: note the symmetrical triangle within the ascending triangle. There is little momentum here just yet though:
A/J 4hr Cloud: watch for any hold above the 4hr Cloud:
A/J daily: watch for any break and hold above the daily Cloud:
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