AUDJPY: A Sell Opportunity

The currency pair looks bullish in the long-term outlook while the medium-term is bearish.
The bulls may have a temporal strength at the moment.


AUDJPY Weekly Price Analysis – June 19
Further increase in the bear’s pressure may break down at the $89.645 support level and this may decrease the price to $89.086 and $87.302 support levels.

AUDJPY Market
Key Levels:

Resistance levels: $96.550, $96.650 $96.750
Support levels:   $89.350, $89.250, $89.150

AUDJPY Long-term Trend (1D): Bullish AUDJPY pair looks bullish in its long-term perspective. The pair is losing bullish momentum as the price decreased to the $91.967 low level during yesterday’s session.

The bulls’ in-road as the daily chart opens today and moves the price action of the pair up to the $93.065 resistance level.

The market value of the Yen is up at $94.565 high level below the EMA-9 and above the EMA-50. This implies that the currency pair is in an uptrend more so, the bulls are getting weaker and the sellers are gradually warming up to take charge of the market at the present.

The stochastic signal which is pointing downwards at around level 40% in the oversold region also indicates that the sellers might likely continue the downward pressure of AUDJPY in the days ahead in the long-term perspective.

AUDJPY Medium-term Trend(4H): BearishOn the 4-hourly chart, the currency pair is in a downward move. Pressure from the buyers moved the market price of the AUDJPY pair up to the $93.553 resistance level before the end of yesterday’s session.

Reactions from the buyers further increased the market value of the Yen up to $93.509 as the 4-hourly chart opens today. This later rise to a $94.159 high level.

The momentum loss as the sellers in-road briefly into the market and dropped the price of the Yen down to a $93.482 low level which is below the two moving averages; this suggests that the price action of the currency pair is in control of the bears and in this case a downward trend.

The pair which is pointing down at around level 62% of the daily stochastic in the overbought region also indicates that the price of AUDJPY is in a downtrend, this may compel the sellers to emerge and take over the market price of the Yen in the nearby days in the medium-term.

Therefore, sellers may wait for this action to occur before taking their position as desired.

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