Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Market Analysis – October 12
AUDJPY experiences a bullish reversal with a prominent rejection at the previous low. A bullish shift in market structure set the stage for a price rise. Following the reversal, there was a sustained period of bullish momentum. Shortly after, a decline was observed.
AUDJPY Key Levels
Demand Levels: 93.200, 90.200, 87.800
Supply Levels: 96.500, 98.700, 100.000
AUDJPY Long-Term Trend: Bullish
The price quickly gained bullish momentum after seeking liquidity and breaking through the supply level at 96.500. The rapid bullish momentum was noted as Price smashed the supply level at 96.500.
However, this bullish momentum diminished as the price approached the 98.700 mark due to a lack of retreat for a larger upward movement. As the price started to retreat to the Order Block, momentum for more bulls built up. The activation of the order block signaled a structural change and the end of the pullback.
The price then retraced to the Fibonacci level of 0.786, indicating consistency in the buy/sell ratio.
AUDJPY Short-Term Trend: Bullish
The price action responded positively as it approached the order block, setting a series of higher highs. Additionally, the moving average confirms the bullish bias, as the price remains above it.
Do you want to take your trading to the next level? Join the best platform for that here
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.
