AUD/JPY currency pair analysis

The trend is ascending. The currency pair is trading within the range of 365 and 135 moving averages. The descending wave structure is truncated. The Awesome Oscillator indicator shows bullish divergence, and the Stochastic Oscillator indicator signals oversold.

Trade idea:

Buy on the formation of an upward wave structure where wave (A) breaks the downward inclined truncated structure channel.

Stop Loss: 95.76.

Target levels: 97.60; 98.40.