AUD/JPY Price Analysis: M-formation completed, bears lurking

Further to the prior analysis, AUD/JPY Price Analysis: Bulls target daily resistance, the market has followed suit in accordance to the price action f  |  20/01/2021 22:48
  • Bears about to get back on board following a significant correction.
  • Price action from a 4-hour perspective can be monitored for an optimal entry point. 

Further to the prior analysis,  AUD/JPY Price Analysis: Bulls target daily resistance, the market has followed suit in accordance with the price action forecast as follows:

The daily chart above and the 4-hour chart, below, are prior analysis in anticipation of a correction and discount for bears seeking a downside extension of the daily impulse.

Daily chart/live market

4-hour chart/live market

The price moved in on the telegraphed resistance, albeit not offering an opportunity to get on board for the market simply bolted in one way traffic. 

Nevertheless, a downside opportunity has now emerged. However, the technical environment is still bullish with price above support structure and the 20-moving average. 

An optimal entry point from a new resistance structure would arise once conditions are bearish and the price has broken below support. 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com