Market Analysis – September 14
AUDJPY reveals bullish potential. The market is currently exhibiting a bullish trend. This, therefore, is indicating the possibility of an increase in value soon. This suggests that the Australian dollar is strengthening against the Japanese yen. Traders are paying attention to the significant resistance level at 97.650, as it serves as an area of liquidity.
AUDJPY KEY LEVELS
Demand Levels: 90.200, 87.800, 86.200
Supply Levels: 95.800, 97.650, 100.000
Long-Term Trend: Bullish
The market’s trend quickly shifted from bearish to bullish after breaking its structure, with no signs of looking back. The retreat from 97.650 led to a significant low in late July. The failed low indicates that the price was unable to decline further, signaling the start of another bull run. Furthermore, the change in market structure provides a reliable indication that the bear market is nearing its end.
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If the price remains above the moving average, it indicates a bullish market. There is also an upward momentum towards reaching the level of market liquidity at 95.800.
Short-Term Trend: Bullish
The occurrence of the Failed Low and the change in market structure on August 30th further support the overall bullishness of the price. Currently, the price is higher than the moving average and is converging with the daily moving average.
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