AUDJPY Continues to Respect the Bearish Channel
Login

AUDJPY Continues to Respect the Bearish Channel

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

Azeez Mustapha

Updated:

AUDJPY Analysis  – December 19

AUDJPY continues to respect the bearish channel on the daily chart. Sellers are obviously in control as there is a  continuous price decline.

AUDJPY Major Levels

Demand zones: 91.20, 90.50, 90.00
Support zones: 92.60, 94.00, 95.40

Audjpy Continues to Respect the Bearish Channel AUDJPY Long-term Trend: Bearish

The market took off suddenly as August opened. A prominent rejection candle appeared at the 92.20 demand level. A long wick seen under the daily candle revealed the buying force at the support level. The Parabolic SAR (Stop and Reverse) guided the daily candles through various supply levels to rest above 95.40. The market was oversold above the 95.40 supply level. The appearance of the Parabolic SAR was a confirmation of a trend reversal. The market crashed back to 91.20.

The market bounced off the demand level at 91.20 in October. Other major levels except 95.40 were not respected as the price rose. The level formed a confluence point with the daily bearish trendline. The market reversed at the touch of the confluence point of the bearish trendline and the supply level at 95.400. The downward parallel channel on the daily chart has conducted the market to the demand level at 92.20.

Audjpy Continues to Respect the Bearish Channel AUDJPY Short-term Trend: Bearish

The market structure shows the weakness of the lows formed. Lower highs and lows are evident in the bearish parallel channel to reach the demand level at 91.20. The market is currently bearish. A retracement is expected to shift the market to 92.60 before the downward order flow continues.

You can purchase Lucky Block here.  Buy LBLOCK

NoteLearn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • 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