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29.04.202112:02 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 ascending trendline support and moving average, and MACD is holding above the 0 line. We could be seeing a bounce from buy entry, in line with 61.8% Fibonacci retracement, and further rise to our take profit levels, in line with horizontal swing high resistance and -27.2% Fibonacci retracement.

*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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