AUDJPY Analysis – June 27
AUDJPY has more tendency for downside movement if it breaks out from its current consolidation. The price is skewed to the lower part of the consolidation. Therefore, the price crashes several times to the support level at 92.930 rather than testing the resistance at 92.620.
AUDJPY Significant Levels
Resistance Levels: 96.800, 95.620, 94.030
Support Levels: 92.930, 91.120, 87.430
AUDJPY Long-Term Trend: Bearish
The AUDJPY market makes a breakthrough above a strong support level at 91.120. This led to a rise of more than 6% when the price reached the 96.800 resistance level. The buyers were weakened at this point and were promptly rejected. This plunged the market into a ranging movement with 92.930 as support and 95.620 as the resistance to the upward flow of the price.
The market has been ranging for up to 17 trading days now, and from all indications, the price is predisposed to trading lower. The MA period 14 (Moving Average) is now taking a resistance position above the daily candles. Notwithstanding, the RSI (Relative Strength Index) line remains above the zero level, though its undulating strength has been reduced.
AUDJPY Short Term Trend: Bearish
On the 4-hour chart, the price is gyrating above the 92.930 support level. The MA period 14 is undulating within the 4-hour candles but is more skewed towards the support. The RSI line has dipped below the zero line and is struggling to recover above it. When AUDJPY eventually breaks below the support level, it will likely fall to 91.120.
How To Buy Lucky Block
Note: Learn2.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
- 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.