AUDJPY: Breaking Above Major Falling Channel, Rebounded Off From Major Support in MN Chart

AUDJPY MN, Appreciating from Major Support Zone, Breaking Above Major Falling Channel

AUDJPY H4, Broken Above Major Falling Channel, Appreciating Within Rising Channel

AUDJPY H1, 1st Wave Appreciation from Bottom of Rising Channel, Entering a Key Resistance Zone

AUDJPY first had a strong pullback from a major support zone in the MN chart, signaling for a sign of significant rebound and probable reversal.
It gained further to the top of a major falling channel in W1 chart and the price is already breaking above the top of the channel, another strong signal for further appreciation.
In the H4 chart, the price is seen successfully broken above the top of the major falling channel with a rally and is about to reach a resistance zone.
With RBA still holding back from cutting its cash rate, Aussie is most likely to continue to appreciate to a stronger level enough for RBA to finally take action.
Across some of the yen pairs, the yen is seen weakening, causing the yen pairs to appreciate since it failed to break and fall from 100 on USDJPY.
There is now enough factors, both technically and fundamentally, to believe that AUDJPY may appreciate rapidly the moment is has broken above the major falling channel.
For the short-term trade, based on H1 chart, the price has just rebounded off and made its 1st wave of appreciation from the bottom of a rising channel.
Wait for the price to start retracing and apply the retracement channel strategy to look for a buying opportunity.

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