The AUDJPY Market Forms a Bullish Market Structure

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Market Analysis – February 13

The AUDJPY market structure has turned bullish as higher highs and lows are assembled from the 87.890 demand level. An ascending uptrend channel is also visible on the daily chart.

AUDJPY Key Levels

Demand Levels: 91.180, 87.890, 85.920
Supply Levels: 95.140, 98.230, 102.00

The AUDJPY Market Forms a Bullish Market Structure

AUDJPY Long-term Trend: Bullish

The AUDJPY market switched from an uptrend to a downtrend after the supply level of 98.230 was reached. The Moving Average Convergence and Divergence (MACD) indicated that the market was overbought in September. The Moving Average period nine also swerved above the daily candles. The Moving Average period twenty-one followed after. Buyers attempted to prevent a further drop in price below 91.180. The market rallied for a short time during October.

The price continued to decline in November. The drop in price was very lethargic until mid-December, when a bombshell was launched by the sellers. The price dropped from 91.180 to 87.89 in a single day. A double bottom bullish reversal pattern was completely formed in January. The Moving Averages Convergence and Divergence (MACD) also indicated bullishness in January. Higher highs have formed since the formation of the double bottom.

 

The AUDJPY Market Forms a Bullish Market Structure

AUDJPY Short-term Trend: Bearish

A parallel channel is guiding the market upwards. The previous bearish channel has been broken. The market has retraced to test the previous resistance trendline for support. The market is expected to shoot to the next supply level at 95.140.

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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

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
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.