AUDJPY Seeks 97.650 Supply Level
Login

AUDJPY Seeks Liquidity at the 97.650 Supply Level.

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

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more


Market Analysis – September 22

AUDJPY seeks liquidity at the 97.650 supply level. AUDJPY has completed its retracement phase, which began in mid-September 2022. It lasted until late March 2023, marking its major low. This break in the structure has shifted the initial bias of the price action to bullish.

AUDJPY Key Levels

Demand Levels: 91.800, 87.800, 86.100
Supply Levels: 95.800, 97.650, 100.000

AUDJPY Seeks 97.650 Supply Level AUDJPY Long-Term Trend: Bullish

AUDJPY has transitioned from bearish to bullish as the structure was broken. This led to an impulse advance without a significant pullback. The price encountered resistance at 97.650, resulting in a lower low and indicating a pullback phase.

During the retracement, the price respected the 91.800 level and closed the Fair Value Gap. This satisfied the conditions for initiating buy positions. The support level is at 91.800, combined with the Relative Strength Index crossing the oversold level of 30.00. This led to further strengthening of the bullish inclination of the price.

Following the retracement, the price has been forming higher highs while maintaining a positive trend line. With 95.800 and 97.650 serving as a liquidity zone, it is expected that the bullish momentum will break above these levels.

AUDJPY Seeks 97.650 Supply Level

AUDJPY Short-Term Trend: Bullish

AUDJPY is also exhibiting a bullish outlook based on the structure and the indication from the Moving Average. The current price action is anticipated to surpass the 95.800 level, after which a pullback is expected to create additional liquidity for further bullish movement.

 

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