Long AUD/JPY at 87.00 with Target Near 92.00

I’m looking to go long AUD/JPY around the 87.00 price area, based on levels on the Daily chart. My stop will be placed below 85.00, with a profit target just before 92.00.

Currently, there are no trade opportunities using the Weekly or Monthly levels, but I’m watching for potential longs around 83.50 and a short opportunity around 93.50.

Trade active

Got the longs filled with the gap open lower!!! Holding longs for now. SL is below 85

Note

nice bounce for about 150 pips.. Time to move up SL - just below 86. There are couple of levels along the way, which I may decide to take some partial profits (89.40 & 90.50)!!!

Note

Hit the first TP at 89.40

Note

Also hit the 2nd TP at 90.50. Holding rest of the position.. Will take some position out around 92 and 93.

Trade closed: target reached

BlueSec

Disclaimer: The analysis provided is just an idea and should not be used as financial advice.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

BlueSec

Disclaimer: The analysis provided is just an idea and should not be used as financial advice.