AUDJPY: It Might Be a Time To Buy

The pair looks bullish both in the medium-term outlook and in the long-term outlook.
Buyers may put in their aggressive orders.


AUDJPY Weekly Price Analysis – December 22
Further increase in the bull’s pressure may break up at the $83.249 level and this may push the price up to $83.802 and $83.900.

AUDJPY Market
Key Levels:

Resistance levels:   $83.850, $83.950 $84.050
Support levels:       $78.500, $78.400, $78.300

AUDJPY Long-term Trend: BullishThe currency pair is in a bullish zone in its long-term perspective. The buyers managed to push the price of AUDJPY up to $81.592 in the resistance area before the end of yesterday’s session and sustained it.

The bulls continue the journey up north as the daily chat opens today at $81.593 in the resistance area.

The impulsive move by the buyers further moves the price of AUDJPY up at $81.740 in the resistance area as the journeys up north continue.

The price of the Yen is initially up at $81.745 above the two EMA-9 in the resistance area. This implies that the price of AUDJPY is in control of the bulls, therefore it’s in an upward trend.

The signal from the stochastic oscillator pointing upwards at around level 81% in the overbought area suggests the momentum in the price of AUDJPY is in an uptrend. This may compel the selling pressure to resume in the nearby days in the long term.

AUDJPY Medium-term Trend: BullishThe currency pair is in the bullish trend in its medium-term outlook. After breaking the $81.397 of the upper channel the bulls pushed the price further up at $81.608 in the resistance area shortly after yesterday’s opening before momentum loss. AUDJPY dropped to $81.432 in the support area before the end of the session.

The 4-hourly chat opens today at $81.562 in the support area confirmed the bears’ takeover.
The momentum was lost as the buyers’ returns briefly and moved the price of AUDJPY up to $81.797 in the resistance area.

The price of AUDJPY is now up at $81.893 in the resistance area which is above the two EMAs, this is an indication of upward momentum in the price of the Yen.

The stochastic oscillator signal pointing up at around level 100% in the overbought region suggests that the currency pair may likely encounter a trend reversal whereby sellers will emerge to push the price of AUDJPY down in the days ahead in the medium term.

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