AUDJPY
Supply + Demand
AUDJPY has been making consistent Higher Highs + Higher Lows since forming a Double Bottom in Mid December of 2023.
AUDJPY retested Supply around the 96.000 area which was turned to Demand in January 2024 and then formed a Pin Bar candle which pushed the market to a Current Higher High to 96.800.
On the 1HRtime frame there is an Inverted Head and Shoulders that is giving more confirmation that market simply needs to pull back for a new Long Position.
After a Higher High, market will need to retrace and give confirmation to go Long.
AUDJPY is currently in a Golden Zone of Fibonacci + POI from late November 2023 that made
Support around 96.834 which then acted as Resistance (4) times since then on the 6HR Chart.
As long as market can maintain here it will push to Major Supply from Mid November 2023 and potentially make a Higher High this year.
AUDJPY has been making consistent Higher Highs + Higher Lows since forming a Double Bottom in Mid December of 2023.
AUDJPY retested Supply around the 96.000 area which was turned to Demand in January 2024 and then formed a Pin Bar candle which pushed the market to a Current Higher High to 96.800.
On the 1HRtime frame there is an Inverted Head and Shoulders that is giving more confirmation that market simply needs to pull back for a new Long Position.
After a Higher High, market will need to retrace and give confirmation to go Long.
AUDJPY is currently in a Golden Zone of Fibonacci + POI from late November 2023 that made
Support around 96.834 which then acted as Resistance (4) times since then on the 6HR Chart.
As long as market can maintain here it will push to Major Supply from Mid November 2023 and potentially make a Higher High this year.
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