AUDJPY Bearish Ride Is Likely to Head South
Login

AUDJPY Bearish Ride Is Likely to Head South

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Market Analysis- March 8

AUDJPY bearish ride is likely to head south. With the sellers attempting to break through the significant level of 97.400, it is clear that the bears are in control. At the beginning of March, the buyers acted as a formidable barrier, preventing the sellers from pushing the price below the 97.400 level. However, their efforts were not enough to sustain a bullish campaign. The bears managed to regain control, leading to a downward trend in the AUDJPY pair.

AUDJPY Bearish Ride Is Likely to Head South AUDJPY Key Levels

Resistance Levels: 99.100, 98.000
Support Levels: 97.400, 93.700

AUDJPY Long-Term Trend: Bearish

Throughout February, the bulls dominated the market, pushing the price higher. This bullish momentum was ignited when the sellers were rejected at a significant level of 95.480. The Australian market showed strength as it climbed towards the key level of 99.110. However, towards the end of the second month of the year, the price took a U-turn, giving strength to the Japanese market.

In recent days, the bulls attempted to regain control as the sellers hit the 98.000 key level. However, their efforts were in vain, as they were unable to breach this market level. As a result, the AUDJPY pair is currently adjusting back to a sell trend in the market.
Analyzing the price oscillator, we can observe a decrease in momentum, indicating a potential shift in market sentiment. Traders, even at this time, have the opportunity to hit a jackpot of trades with forex signals.

AUDJPY Bearish Ride Is Likely to Head South

AUDJPY Short-Term Trend: Bearish

If the sellers intensify their efforts, the market is bound to head southward once again. However, they first need to breach the lower level beyond 97.400. This week will be crucial in determining the future direction of the AUDJPY pair.

Do you want to take your trading to the next level? Join the best platform for that here 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News