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26.03.202113:06 Forex Analysis & Reviews: Daily Video Analysis: AUDJPY facing bullish pressure, potential for further rise!

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Today we take a look at AUDJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bullish pressure as it continues to hold above the ascending trendline support, and the Stochastic indicator is also approaching the ascending trendline support. We could potentially see a bounce at buy entry level, in line with our 61.8% Fibonacci retracement and ascending trendline support, and further upside towards our take profit levels in line with horizontal swing high resistances.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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