AUD/JPY Analysis (1-Hour Timeframe)

We are currently observing the formation of a Cup and Handle pattern, which is still in progress. The key levels to monitor:

Handle Resistance: First, we need a breakout of the handle pattern to confirm the bullish setup.
Pink Resistance Zone: If the price breaks out of this key level, it will confirm the full Cup and Handle pattern, signaling a strong bullish move.
Target Projection:

Based on the Cup and Handle formation, the Green Zone represents the projected target for this setup.
This is a pattern to watch closely for confirmation and breakout strength. Patience is key to avoid premature entries.