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AUDJPY: Declines beneath $82.090, Maintains Downtrend

Johnathon Fox
01/23/2022 | UPDATED ON: 01/23/2022

The Yen is facing more pressure from the bears.
The market is falling hard as AUDJPY slopes below $82.090 leading to a market selloff.

AUDJPY Weekly Price Analysis – January 23
Further increase in the bears’ pressure may break down at $80.046 and this may decrease the price to $78.887 and $78.785 support levels.

AUDJPY Market
Key Levels:

Resistance levels:   $85,800, $86,000, $86,200
Support levels:        $81.500, $81.300, $81.100

AUDJPY Long-term Trend: BearishThe momentum on the long-term outlook is in a downward move as can be seen from the daily chart now. The bear’s increased momentum pushed the price down to $82.394 with a bearish doji candle in the support area, during yesterday’s session and sustained it.

The formation of the long bearish candle at $82.409 at the support area as the daily session opens today, affirms the bear’s presence in the market.

AUDJPY further drops to $81.527 with its wick touching the EMA-50 in the support area as the journey down south continues.

The price of the Yen is initially down at $81.490 in the support area which is below the two EMAs; this implies that more sellers are present in the market at the moment.

The stochastic signal which is pointing down at around level 13% in the oversold region also indicates that the price of AUDJPY is in a downtrend, more so buyers are expected to emerge to move the price of the Yen up in the nearby days in the long-term.

AUDJPY Medium-term Trend: BearishThe currency pair is in a bearish trend in its medium-term outlook. The bears made a progressive movement to the south at $82.399 in the support area with a touch at the two EMAs which are fanned apart during yesterday’s session.

The bears made a progressive movement to the south at $81.932 in the support area as the 4-hourly session opens today.

The bulls gradually road to the market and increase the price to $82.076 in the resistance area.

The bulls lost the momentum after which the sellers return and drop the market price of AUDJPY down to $81.630 in the support area.

The bears’ increased momentum further drops the price of the Yen down to $81.527 support level.

The price of AUDJPY is initially down at $81.490 support level below the two EMAs, this implies that the bears are already dictating the market.

The stochastic oscillator signal pointing down at level 2% in the oversold region suggests that the price of the Yen is in a downward motion and more buyers are expected to come into the market sooner to move the price up in the medium-term perspective.

Therefore, buyers may wait for this action to occur and take their position as desired.

Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

 

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
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