The AUD/JPY currency pair appears poised to potentially extend its current bearish trajectory, particularly as the price action has recently reacted to an unmitigated order block situated around the 97.00 level. This specific price zone could act as a significant area of supply, triggering renewed selling pressure that may drive the pair lower. Should bearish momentum persist, it’s plausible that the price could descend toward the 96.00 region as an initial target. Furthermore, if sellers maintain control and market sentiment remains risk-averse, the downward movement could intensify, possibly resulting in a break below the key support area near 95.500—effectively sweeping liquidity beneath that level and opening the door for even deeper retracements.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.