AUDJPY remains in an uptrend on both outlooks.
The buy traders may have full and total control of the market.
AUDJPY Weekly Price Analysis – September 3
AUDJPY is trading in an uptrend at the moment and this may continue, if the buy traders should increase their buying pressure and close the daily chart above the $96.76 previous supply value, then there is a high probability of the price going up to its recent swing high, which is $97.57 level, offering a break relief for sell traders.
AUDJPY Market
Key Levels:
Resistance levels: $91.000, $92.000 $93.000
Support levels: $89.000, $88.000, $87.000
AUDJPY Long-term Trend: Bullish
The AUDJPY pair is in a bullish trend zone in its long-term outlook. The high impact of the bulls in the past few days has really made and sustained the pairs’ bullish momentum in its recent high.
The sell traders made their way into the market and dropped the price value of AUDJPY down to a $93.85 low level slightly above the two EMAs as the daily chart opens today.
Hence, staying above the supply levels indicates a strong possibility for a bullish correction. A strong breakup above the $97.57 resistance point would strengthen the bullish pressure.
Additionally, if buyers could trigger their buying action and exchange hands with the sell traders at the $93.85 support value, the price of AUDJPY could turn positive and break out above the $97.57 resistance level.
A breakout above this barrier, with a daily candle closing could signify a shift in the market dynamics. Such a breakthrough would provide an opportunity for buyers to regain control and potentially drive the price of AUDJPY toward the $98.00 high mark in the coming days in its long-term perspective.
AUDJPY Medium-term Trend: Bullish
The AUDJPY pair is in a bullish trend zone in its long-term outlook. Price can be seen trading above the EMA-9, indicating a bullish trend zone.
The high impact of the bulls in the past few hours has really made and sustained the pairs’ bullish momentum in its recent high.
The market price of AUDJPY is currently trading at the resistance level of $94.38 slightly above the EMA-9; this assures or confirms the bull’s dominance in the market.
The longer the price stays above the mentioned level, the more pressure builds up to reach a key significant level at the upside.
Notably, the price of AUDJPY remains in an uptrend, if the bulls could add more effort to their buying stuff and breach the $95.85 resistance, the next resistance level to watch out for would be around $98.00 upper resistance value in the days ahead in its medium-term outlook.
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