AUDJPY Analysis – January 15
AUDJPY’s retracement sets the stage for potential bullish momentum. Overbought conditions signalled a potential crash in June 2023. From 97.670, a retracement to 91.800 followed, sustaining a bullish trend. Previous highs were invalidated despite hesitant purchases. The price is now moving into a discount zone, although from the bullish order block at 95.000, the positive trend might continue.
AUDJPY Key Levels
Demand Zones: 91.80, 86.10
Supply Zones: 96.90, 98.60
AUDJPY Long-Term Trend: Bullish
AUDJPY quickly reversed from 90.260, creating a swing low as the price surged. The bears completely left the market before the overbought position, indicating that the turnaround was quite significant. The overbought condition developed when prices surged with the Stochastic Oscillator. The Stochastic Oscillator’s 80.0 threshold was crossed, indicating an approaching fall or retracement to the downside. A significant pullback occurred at the price level of 97.670. It took months for the swing high set at the price level of 97.670 to become invalid.
Before its invalidation, the developing retracement after the construction of the 97.670 swing high terminated at 91.800. The bullish trend persisted because of the bulls’ presence in the 91.800 demand zone. The prior highs were broken, despite hesitant buying pressure. A significant high was established at 96.920 before a huge upsurge eventually triggered an invalidation of the 97.670 swing high. The overbought state of the market is now pushing AUDJPY into the discount zone. However, following the bullish order block in the discount zone, the bullish trend may continue.
AUDJPY Short-Term Trend: Bullish
The four-hour chart shows a range of prices right now. The four-hour chart’s MA Cross indicates that AUDJPY is probably going to keep falling. Once the key trendline is reached, the market is anticipated to restart its 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
- 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.