AUDJPY Faces Downside as Bullish Momentum Falters
Login

AUDJPY Faces Downside as Bullish Momentum Falters

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

Azeez Mustapha

Updated:

AUDJPY Analysis – January 23

AUDJPY faces a downside as the bullish momentum falters. Despite the ongoing pullback, the market’s order flow is still bullish. With the inability to break through the bearish order block at the premium zone, the bullish momentum in AUDJPY seems to have stopped. There will likely be another downward crash because the bullish motive trend seems to have stopped.

AUDJPY Key Levels

Demand Zones: 93.700, 91.810
Supply Zones: 98.590, 100.000

TradingView ChartAUDJPY Long-Term Trend: Bullish

Since the price was unable to invalidate the bearish order block in the premium zone, it appears that the bullish motive trend has come to an end. From 90.260, the AUDJPY motive trend started to gain strength. Following a noteworthy period of wide-range consolidation below the prior resistance at 91.810, the reversal occurred at 90.260. The price created a breaker block during the reversal as it rose quickly to the upside. A later return from the premium zone verified the validity of the breaker block. Due to the overbought condition of the market in the premium zone, the recovery started with a turnaround of around 97.670.

AUDJPY saw a significant retracement in fractals before testing the 91.810 price level again. However, in fractals, the response at the breaker block gave rise to a tremendous expansion. In the middle of the bears’ conflict, this third impulse made it very evident that the bull was in complete control. Following the suppression of the bullish momentum at the 98.590 supply zone, there was another significant correction. Around 98.000, a bearish order block developed during the decline. As the fifth impulsive swing becomes curtailed in the premium zone, the bearish order block is probably going to set off the looming bearishness.

AUDJPY Faces Downside as Bullish Momentum FaltersAUDJPY Short-Term Trend: Bullish

AUDJPY rallies alongside a diagonal support on the four-hour chart. A buy-side liquidity grab at 97.800 has triggered a sell-off as the bulls exit the market. A breakout from the diagonal support is expected to cause a massive crash into the discount zone.

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