AUDJPY has undergone a significant correction, sliding from the 109.00 peak down to the 106.20 region. However, the bears have hit a massive roadblock. We are currently seeing a strong reaction from a historical demand zone (105.80 – 106.00), marked by the clear rejections in the shaded circles on the chart.
🔍 The Critical Battleground: 106.00 – 106.60
The price is currently hovering around 106.57. This "buffer zone" between current levels and the demand floor is make-or-break for the next major move.
🚀 The Bullish Scenario (Hold & Bounce)
If buyers can maintain support above 106.60 and consolidate north of the demand zone, we have a clear path for a recovery.
Target: 🎯 108.15
Rationale: Sustained trading above 106.60 confirms that the historical demand is holding and the correction is over.
One more chance is price slides down till 106 and then bounce back above 106.50 which transforms into re-entry.
⚠️ The Bearish Scenario (Break & Flush)
If the bulls lose their grip and the price slides back through the floor, I’ll be switching my bias.
Trigger: A clean break below 105.85.
Target: 🎯 104.80
Rationale: Once 105.80 fails, the historical support flips to resistance, opening the trapdoor for a deeper sell-off.
💡 Summary: I am watching the 106.60 level closely. As long as we stay above it, the outlook remains cautiously optimistic for a move back toward 108+.
🔍 The Critical Battleground: 106.00 – 106.60
The price is currently hovering around 106.57. This "buffer zone" between current levels and the demand floor is make-or-break for the next major move.
🚀 The Bullish Scenario (Hold & Bounce)
If buyers can maintain support above 106.60 and consolidate north of the demand zone, we have a clear path for a recovery.
Target: 🎯 108.15
Rationale: Sustained trading above 106.60 confirms that the historical demand is holding and the correction is over.
One more chance is price slides down till 106 and then bounce back above 106.50 which transforms into re-entry.
⚠️ The Bearish Scenario (Break & Flush)
If the bulls lose their grip and the price slides back through the floor, I’ll be switching my bias.
Trigger: A clean break below 105.85.
Target: 🎯 104.80
Rationale: Once 105.80 fails, the historical support flips to resistance, opening the trapdoor for a deeper sell-off.
💡 Summary: I am watching the 106.60 level closely. As long as we stay above it, the outlook remains cautiously optimistic for a move back toward 108+.
Dagangan aktif
Book partial profits at 107.60Dagangan ditutup: sasaran tercapai
Target of 108.15 easily hit
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.