AUDJPY has just reached another notable swing high on the sell side. The price ascended steadily and gracefully to this key level following an initial failure to break past the 95.450 resistance level.
The previous bearish trend concluded with a sharp and aggressive displacement that drove the price down to the 86.140 level. In the aftermath, the market began forming a consistent bullish structure. However, this early bullish move initially struggled to push beyond the origin of the prior bearish displacement.
The 95.450 level acted as a strong resistance zone, reinforced by a historical triple top formation that had previously triggered a significant bearish reversal. Despite this, price eventually pulled back and found reliable support at 93.130.
A renewed bullish wave then emerged, breaking above the 95.450 level and progressing steadily to the current high at 97.320. The trend has developed in a gradual yet firm manner, reflecting a controlled and sustained upward movement.
AUDJPY Short-term Trend: Bullish
On the daily timeframe, the price action has formed a narrow but defined bullish channel. Within this pattern, the price tested the upper resistance boundary and formed a double top, suggesting a temporary pause in momentum. A minor retracement is now underway, but the structure remains intact. The price is expected to resume its bullish progression shortly, supported by underlying momentum and bullish market conditions.
Trade on MT4 with Leverage up to 1:500! Trade on MT4 with Leverage up to 1:500!
X
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
AUDJPY Short-term Trend: Bullish
AUDJPY Short-term Trend: Bullish
