The AUD/JPY currency pair is showing long-term bullish potential after completing its previous downtrend. Currently, the price has formed a double bottom pattern, which is a strong indication of a trend reversal from bearish to bullish.
Breakout Confirmation: Heading Towards the Target Price
The formation of the double bottom further strengthens the possibility of an upward movement, especially as the price has begun to break through the neckline area. If this momentum continues, AUD/JPY is likely to move towards its target price, providing traders and investors with an opportunity to capitalize on a broader upward trend.
Trade Recommendation
Buy Entry : 94.222
Stop Loss : 93.078
Take Profit : 95.995
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