AUDJPY : Is Trending Downwards

AUDJPY remains in a bearish trend market zone.
Sellers are in the dominance of the market.

AUDJPY Weekly Price Analysis – August 15
Should the bear increase their momentum, the support level of $80.013 may be broken down.


AUDJPY Market
Key Levels:

Resistance levels:   $85.325, $85.330 $85.335
Support levels:       $80.050, $80.045, $80.040

AUDJPY Long-term trend: BearishThe currency pair is in a downward trend in its long-term perspective. The EMA-9 acted as strong support for the bearish downward price movement each time the price drops around it.

The sustained bearish pressure pushed the pair down to $ 80.949 in the support area during yesterday’s session.

The journey downwards continues as the daily chart opens today with a bearish candle at $80.993 in the support area.

The price of AUDJPY is initially down at $80.741 in the support area below the two EMAs as at the time of writing this article, an indication of a downtrend in the context of the strength of the market.

The stochastic oscillator signal pointing downwards at around level 64% in the overbought region suggests that the Yen is in a downward momentum in its long-term perspective.

AUDJPY Medium-term trend: BearishAUDJPY is in a bearish trend move in its medium-term outlook. The bears at $81.224 in the support area, after touching the EMA -50, further pushed the price down to $80.979 in the support area during yesterday’s session.

The momentum was lost due to the bull’s brief return. Bulls took over and move the price up to $ 81.067 in the resistance area before the session closes yesterday.

The 4-hourly chart today opens with a bullish doji candle at $81.027 in the resistance area, an indication of a trend reversal.

The price of AUDJPY further rises to $81.043 in the resistance area. The sellers came in and drop the price of the Yen down to $80.871 in the support area.

The price of AUDJPY continues down south to $80.741 in the support area below the two EMAs, an indication that the momentum in the price of the pair is in a downward trend.

The stochastic oscillator signal pointing down at around level 11% in the oversold region implies that the price of the AUDJPY may likely remain in the same direction in the days ahead in the medium-term. Hence, buyer’s relief.

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