On daily chart of AUDJPY was formed an inside bar formation where yesterday’s candle is closed in range of preceding candle. The formation appeared on major resistance at 87,450. In turn, from the bottom support provides level of 86.67.
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Passing to 4-hour chart you can try to trade inside bar formation from daily graph depending on the direction of breaking. In case of breaking the maximum of “mother candle” above 87.45, a potential target will be positioned around high from 15th of February at 88.14.
In turn, breaking the bottom can give opportunity for short sales in to important support which is seen at 85.84.
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