AUDJPY Nears Major Liquidity Pool
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AUDJPY Nears Major Liquidity Pool

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Azeez Mustapha

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Market Analysis – October 16

AUDJPY has continued to display a steady yet progressive upward movement, advancing gradually toward the key resistance level at 102.4060. Over recent sessions, multiple breaks of structure to the upside have clearly confirmed sustained bullish momentum, even though the overall pace has remained moderate.

Currently, AUDJPY is undergoing a minor retracement within a broader uptrend, gradually approaching the major liquidity pool near 102.4060. Notably, this level remains a critical reaction zone, as it aligns with a significant supply area and a dense cluster of liquidity, where sharp price responses are often observed.

AUDJPY Key Levels

Demand Levels: 94.3850, 86.6320, 79.8330
Supply Levels: 100.7050, 102.4060, 109.4810

AUDJPY Nears Major Liquidity Pool AUDJPY Long-Term Trend: Bullish

From a long-term perspective, the outlook continues to favor the bulls, as price has decisively broken above the origin of the previous bearish leg around 95.00. Since that breakout, the market structure has evolved consistently, forming higher highs and higher lows that highlight a firmly established bullish trendline. Consequently, this structural pattern reinforces the strength of the ongoing uptrend.

Moreover, the 20- and 50-period Moving Averages have developed dynamic support zones beneath the daily candles, further enhancing the validity of the bullish momentum. As momentum builds, price action steadily advances toward the relative equal highs at 102.4060, an area that remains rich in liquidity and institutional interest. Therefore, traders should anticipate potential volatility and decisive reactions once this level is reached, as the market often seeks to capture liquidity before establishing a new directional bias.

OANDA:AUDJPY Chart Image by Nice11111AUDJPY Short-Term Trend: Bullish

Turning to the 4-hour chart, the market is currently experiencing a measured pullback, signalling a healthy correction rather than a trend reversal. As price retraces, lower lows temporarily emerge, reflecting short-term profit-taking after the previous impulsive upward move. However, the broader structure remains intact and bullish.

Importantly, the pair is likely to retest the ascending trendline, which may serve as a reaction zone for renewed buying interest. Should this dynamic support hold firm, bullish traders could regain control, potentially driving the price back toward 102.4060. In that case, a liquidity sweep above the relative equal highs may unfold before any major reversal or deeper correction develops.

AUDJPY undergoes a short-term retracement; its overall trajectory remains strongly bullish. As the pair moves closer to the 102.4060 resistance, traders can utilize the setup to generate high-probability forex signals. 

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