AUDJPY has been having a strong Bullish move on the Daily and the H4 chart. The price has kept making higher highs and it seems that the buyers are going to ride the pair to make new higher high today as well. The first H4 candle today came out as a Doji candle, and the next one came out as a strong Bearish candle. However, the current candle seems to be Bullish. If it makes an upside breakout, then buying the pair would get us some green pips later today. Let us have a look at the H4 AUDJPY chart.

Have a look at the last candle. It has two more hours to go. If it does make the breakout, then we must wait for the next H4 candle to be held by the breakout level and the breakout level has to produce an H1 Bullish Engulfing candle as well to offer us the long entry. Let us have a look at the summary of the trade...

• Buy Stop Order: 81.470
• Stop Loss: 83.985
• Take Profit: 84.700
• Validity: 72 hours
• Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

None of the currency of this pair has any high impact news event today. Thus, if we get the breakout and the confirmation, then the chance is very high that the price would head towards the target without having that many pauses. This month has been sluggish overall. We are about to finish the first half of the year. Let us see whether the market shows some good move in the rest of the days.