The AUDJPY pair has experienced a bullish breakout through resistance, following a falling wedge pattern. The target is set at 102.65.

The trading arrangement was spotted on AUDJPY. On 29 Apr 2024 at 08AM, the AUDJPY price breached the resistance line of a Falling Wedge pattern. It is anticipated that there might be a bullish price movement towards 102.65 in the following 2 hours.

The pattern’s overall visual quality is moderate. It has a very high uniformity rating, indicating that the price changes are cyclical throughout the pattern’s formation. The initial price trend prior to the establishment of this trading arrangement was rather weak, seemingly originating from a volatile market. The trading arrangement is discernible, with minimal noise during price oscillations between support and resistance. The resistance breakout was quite feeble. It would be prudent to wait for additional confirmation of this breakout before initiating a position.