Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
Market Analysis – July 31
AUDJPY has recently displayed a noteworthy development, forming a double-bottom bullish reversal pattern as it tested the previous resistance zone at 93.0. This resistance level lies within the discount region of the last bullish swing on the daily chart.
Key Levels For AUDJPY
Key Levels For AUDJPYDemand Levels: 94.000, 93.500, 93.000
Supply Levels: 96.000, 97.000, 98.000
AUDJPY Long-Term Trend: Bullish
Despite the double-bottom bullish pattern, it’s essential to note that the previous bearish order block at 96.0 remains intact, keeping the market structure bearish. Both the MACD (Moving Averages Convergence and Divergence) indicator and the Parabolic SAR (Stop and Reverse) continue to indicate bearishness on the daily chart.
The occurrence of the double bottom pattern in the demand zone signifies the active involvement of buyers who have stepped in to prevent a further decline in the price.
AUDJPY Short-Term Trend: Bullish
AUDJPY Short-Term Trend: BullishWhen observing the lower timeframe, we find a contrasting trend. The MACD on the 4-hour chart shows a bullish signal due to the presence of multiple large bullish candles. The current resistance zone at 95.0 is now under threat as the price rises rapidly on the lower timeframe. To confirm a full-fledged bullish trend, a decisive sweep above the high of 97.0 would be necessary
In conclusion, AUDJPY has seen a shift in price action, with a double bottom pattern forming at the previous resistance zone, indicating buyer interest. Nevertheless, the overall market structure remains bearish, as reflected in the higher timeframe indicators. It is crucial for traders to closely monitor the potential breakout above 97.0 to ascertain the initiation of a bullish trend.
Do you want to take your trading to the next level? Join the best platform for that here
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
