AUD/JPY Trading Analysis (17/04/2024)

The trend is ascending. The currency pair is traded in the range between 365 and 135 ЕМА. The downward wave structures are truncated. There is bullish divergence on the Awesome Oscillator, and the moving averages of the Stochastic Oscillator are out of the oversold zone.

Trading idea:

Buy when the formation of the ascending wave structure starts, when the wave A breaches the sloping channel of the downward truncated structure.

Stop-Loss at 98.645.

Target price levels at 100.220 and 100.800.

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