{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/audjpy-possible-reversal-to-the-upside-is-imminent\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/audjpy-possible-reversal-to-the-upside-is-imminent\/","headline":"AUDJPY \u2013 Possible Reversal to the Upside Is Imminent","name":"AUDJPY \u2013 Possible Reversal to the Upside Is Imminent","description":"The AUDJPY pair looks bullish in both outlooks and a possible reversal to the upside is imminent.The selling pressure may soon be exhausted.AUDJPY Weekly Price Analysis \u2013 March 24At the moment the AUDJPY pair is facing the downside; a possible reversal is imminent at the daily current support level of $98.51. The pair might finish […]","datePublished":"2024-03-24","dateModified":"2024-03-24","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"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.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/03\/AUDJPY-LNT-2.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/03\/AUDJPY-LNT-2.png","height":586,"width":1080},"url":"https:\/\/forexschoolonline.com\/audjpy-possible-reversal-to-the-upside-is-imminent\/","about":["AUD\/JPY","Forex Trading Tools","FX Technical Analysis","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":501,"keywords":["audjpy","Australian Dollar\/Japanese Yen","FX Technical Analysis"],"articleBody":"The AUDJPY pair looks bullish in both outlooks and a possible reversal to the upside is imminent.The selling pressure may soon be exhausted.AUDJPY Weekly Price Analysis \u2013 March 24At the moment the AUDJPY pair is facing the downside; a possible reversal is imminent at the daily current support level of $98.51. The pair might finish the downward correction and start reversing to the upside soon if the bulls could speed up their buying motives and exchange hands with the bears at the mentioned support. The target may be the $100.00 upper resistance trend line.AUDJPY MarketKey Levels:Resistance levels: $96.000, $97.000 $98.000Support levels: $92.000, $91.000, $90.000AUDJPY Long-term trend: BullishDespite the bears\u2019 action on the AUDJPY pair, it remains in an uptrend. Although the Yen is facing the downside, a possible reversal to the upside is imminent in its long-term perspective.The sustained bullish pressure at the $99.66 high value in the last few days has made it possible for the Yen price to remain above the supply levels in recent times.The price drop to the $98.51 support level above the EMA-50 as the daily chart opens today, has no serious effect on the coin as the price remains in an uptrend. Thus, a possible reversal and breakout from the $98.51 neckline will accelerate the buying momentum and push the prices higher to hit the $99.66 previous resistance levels. This will bolster more buying pressure on the crypto to the upper resistance levelsAdditionally, the price of AUDJPY is approaching the oversold region, which means that a possible reversal to the upside is imminent soon; hence, buyers could therefore aim at the psychological level of $100.00 resistance value in the days ahead in its long-term perspective.AUDJPY Medium-term trend: BullishThe momentum on the medium-term time frame is also distinctly bullish. Nevertheless, a possible reversal to the upside is imminent, so it seems the bulls will take over the price of AUDJPY soon and push us higher as the market now trades at the oversold region. The sustained bullish pressure to a $99.62 high level in the previous action has led to the Yen\u2019s\u00a0recent high. The bears\u2019 action plummeted the AUDJPY price to the $98.63 support level above the supply level as the 4-hourly chart resumes today which suggests an uptrend.Hence, if the bulls increase their tension in the market, a possible reversal to the upside and breakout above the $100.17 mark with a 4-hourly candle closing will offer buyers a solid foothold to push the AUDJPY price higher. Additionally, we have a bullish bias that the AUDJPY price will experience a possible reversal at the $98.63 low level as the market selling pressure seems to be exhausted. If the buying pressure should increase there may be a possible reversal in the price of the Yen and this might reach the $100.00 supply level in the coming days in its medium-term outlook.Note:\u00a0Forexschoolonline.com\u00a0is 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. "}