AUDJPY Daily Chart Analysis The daily chart of AUDJPY depicts a robust and well-ordered bullish trend which has been forming since mid, October 2025. The rally initiated close to 15th October when the price consolidated near 97.40. During that session, there was a significant rejection of the lows as indicated by a long lower wick, which essentially meant buyers had returned in strength. From 16th October through 23rd October, the price rose gradually to 100.20, making the first distinct higher high and thus confirming the change of market structure from bearish to bullish. On 24th October and 31st October, AUDJPY made a brief shallow correction. After hitting 100.80, the price retraced and tested the support level near 99.20. This correction was still within the confines of the upward channel, and the lower blue trendline was respected. On 31st October, the pair formed a higher low at around 99.00, which was later to serve as a key structural point. Buyers came in forcefully, and trend integrity was preserved. The third impulsive wave occurred from 1st November to 12th November. The price moved up from slightly below 99.50 to a high of 102.40 by 12th November. This upward surge was characterized by strong bullish candlesticks with very little overlap, indicating good momentum. After that, there was a minor consolidation between 13th and 18th November, where the price fluctuated in the 101.80- 102.60 range. This lateral movement was the precursor to further advancement rather than a distribution phase. For a period of several weeks, the pair AUDJPY was on an upward path from 19th November to 4th December. It first broke the 103.00 resistance level before going as high as 104.80. Price peaked at 104.90 approximately on 4th December and then started a pullback. Between the 5th and 12th of December, the decline brought the price to the lower band of the channel support at around the 103.20 level. In fact, this falling phase of the market perfectly matched with a 50.0% retracement in Fibonacci terms of a prior upswing and was something that the bulls took advantage of, as they got a fresh burst of strength. On 13th December, the bulls took over, and by 22nd December, the price again advanced by force. Price progressively went up during this time to the 105.60 area by the end of the period. There were multiple changes in the price with the formation of higher lows as seen on 15th and 18th December, respectively. Between 23rd December and 30th December, the price was in a range again. In fact, it could be observed that the price more or less hovered within the limits of 105.20 and 106.00. This relatively narrow band basically represented a testament to the efficiency of ongoing dynamic forces. The greatest extent to which the price was on the upside was from 2nd January to 27th January 2026. After moving sideways around 106.20, the price was able to go all the way up to 109.80. On 27th January, AUDJPY made an extremely significant move to a high on the swing right below the 110.00 level. The figure around that time designated the top of the ascending channel, and at the same time, there was a peak in the volatility. Even though the bulls were very strong, momentum indicators were still supportive, as the RSI level was holding above 60 and the MACD indicator was staying positive. After the 27th January top, the market went into a corrective phase from 28th January to 6th February. The price pulled back from near 110.00 to 108.90. This retracement was in line with the 38.2% Fibonacci retracement, and the price stayed above the mid-channel support. The drop was characterized by overlapping candles, which is a sign of a correction rather than a reversal. On 7th February, buyers took charge again, and from 7th to 14th February price was on the rise. Price came up from 108.80 and went back to 110.10. On 14th February, AUDJPY was once again at the previous high level and printed a higher low than the January peak. Afterwards, from 15th February to 20th February, the price has ranged between 109.00 and 110.20. The range is forming a little below the 100.0% Fibonacci level, which points to continued bullish pressure. In a nutshell, the trend structure is still primarily bullish, as evidenced by the series of higher highs on 12th November, 4th December, 27th January, and 14th February, and higher lows on 31st October, 12th December, and 6th February. The main uptrend is still valid as long as the price supports above the lower channel support around 108.80 and the 38.2% retracement level. A strong daily close above 110.20 would bring the next upside target close to 111.20 within reach, whereas breaking below 108.80 would indicate a deeper correction without completely negating the dominant bullish structure.
