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Australian Dollar / Japanese Yen
Long
Updated

AUDJPY at Key Support Zone - Will Buyers Regain Control?

AUDJPY has reached a significant demand zone marked by prior price reactions. This level aligns with a key support level that has historically shown buyer interest, suggesting a potential for reversal.

The recent bearish move appears to be testing this demand zone, and if the price shows a clear rejection through bullish price action signals—such as a strong engulfing candle or wicks rejecting lower prices—there is a likelihood of a rebound. I anticipate that if the demand zone holds, the market may see a rally toward the 97.300 level.

Let me know your thoughts on this analysis or if you see any alternative scenarios. Feel free to share in the comments!
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DanieIM
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DanieIM

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