AUDJPY has reached a crucial point in the current downtrend. The price is testing a key bullish order block at 95.5780, which could spark significant buying interest. This support zone is critical and may counter the ongoing bearish trend. The interaction here will likely determine the market’s next direction, adding urgency to monitor for potential shifts.
AUDJPY Key Levels
Demand Levels: 95.5780, 93.8740, 92.0850
Supply Levels: 96.0410, 99.7410, 101.2480
AUDJPY Long-term Trend: Bearish
The bearish trend began in November with a Head and Shoulders pattern near 101.2480. This marked a major shift in sentiment. Sellers gained strength, breaking the 99.7410 support level. The Three Black Crows pattern confirmed the sell-off and intensified the downtrend.
The Smoothed Heikin Ashi candles turned red after the break. They now sit above the daily candles, emphasizing bearish dominance. However, the price has reached a bullish order block, which could shift momentum. The Stochastic oscillator also signals oversold conditions, reducing the likelihood of further declines.
AUDJPY Short-term Trend: Bearish
On the 4-hour chart, AUDJPY has retraced into a bearish order block, creating renewed selling pressure. This pullback directly challenges the 95.5780 support level. If sellers fail to maintain control here, buyers may step in, leading to a reversal. A breakout above the bearish order block could confirm bullish momentum and create new opportunities for forex signals.
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AUDJPY Short-term Trend: Bearish
