AUDJPY: Bulls are Gaining Strength

The AUDJPY bulls are gaining strength and will most likely continue in the same trend.
The bulls remain dominant in the market.

AUDJPY Weekly Price Analysis – June 24
At the moment, the AUDJPY market is in a positive trend. The bulls are gaining strength and this may continue. According to current trends, the currency pair may continue to rise if buyers raise their market activity aggressively. The coin may continue to soar up to the $108.00 upper resistance level and beyond, resulting in an intraday gain and a potential buy signal for the coin holders.

AUDJPY Market
Key Levels:
Resistance levels: $104.00, $105.00, $106.00
Support levels: $95.00, $94.00, $93.00

AUDJPY Long-term Trend: Bullish (Daily chart)
The AUDJPY bulls are gaining strength as the pair is experiencing a jolly bullish move in its long-term view. The Yen price is now strongly trading above the moving averages with huge volumes from the bulls. Thus, the recent market structure has favored the bulls.

The sustained bullish pressure was able to push the currency pair upside to a $ 105.90 high level before the end of yesterday’s session; this has enhanced the pair to remain firm above the supply levels in its recent high.

Today, the market price of AUDJPY is gaining strength and remains in an uptrend at the $106.15 high level which is above the moving averages as the daily chart opens. This implies that the pair is in an uptrend and from the way it is at the moment, it will keep growing.

Hence, there is a tendency for the coin to rise further, if the support level holds, this will enable buyers to take the price up to a high $108.00 mark soon in its long-term perspective.

AUDJPY Medium-term Trend: Bullish (4H chart)
AUDJPY prices still trade in a bullish market as the bulls are gaining strength in its medium-term perspective. The Yen prices are seen gaining momentum above supply levels which means that the bulls are dominating.

The bulls made it to a $105.90 resistance level during yesterday’s session and sustained it. This really made it possible for the price to rise further.

Today’s market value of AUDJPY at a $106.15 supply value above the two moving averages as the 4-hourly session opens today suggests that the bulls are gaining strength.

In addition to that, with the daily stochastic pointing upwards, we can expect more bullish action, if all the support holds in place. The price of AUDJPY might continue gaining strength and jump up to the $108.00 upper high level soon in its medium-term outlook.

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