AUDJPY Price Anticipates a Bullish Reversal

AUDJPY’s price anticipates a bullish reversal at the $95.53 current support.
The bulls may commence the uptick trend and take charge of the market soon.

AUDJPY Weekly Price Analysis – September 8

AUDJPY price anticipates a bullish reversal as the current selling pressure may end soon and the Yen price could be ready for an upward movement. This reversal pattern could assist buyers in challenging the $109.15 neckline barrier and remaining stable at the upside. Therefore, should the bulls add more pressure to the buying momentum on the currency pair, the Yen price may reverse to the bullish pattern. Its upside moves could extend to a $115.00 upper resistance level, creating a strong accumulation zone for buyers.

AUDJPY Market
Key Levels:
Resistance levels: $104.00, $105.00 $106.00
Support levels:     $89.00, $88.00, $87.00

AUDJPY Long-term Trend: Bearish (Daily Chart)

The AUDJPY pair anticipates a bullish reversal as the market selling pressure seems to have reached an exhaustion stage in its long-term outlook.

The Yen price is making lower lows and lower highs below the supply levels, indicating a bearish trend. However, the current trend will soon be nullified as the market is already oversold, and a bullish reversal is imminent.

The sustained pressure from the bears at the $96.58 support level in the past few days has contributed to its bearishness in its recent low.

Nevertheless, it seems the bulls will take over the price of AUDJPY soon and commence the new bullish phase as the selling pressure is exhausted.

Today, the AUDJPY anticipates a bullish reversal as the bearish actions sent the Yen price lower, reaching the $95.53 support level below the EMA-50, suggesting a bearish momentum.

Hence, the bullish momentum might be triggered and the price may likely increase to break up the $109.15 previous high value soon if the current support remains unmoved and the bulls should speed up their activities in the market.

Meanwhile, the selling pressure will end soon, and further downsides may be unlikely as the market price of AUDJPY is in the oversold region.

The currency pair anticipates a bullish reversal at the $95.53 low mark to resume an uptrend soon. If the bulls achieve this, the next price target might be the $115.00 resistance value in the days ahead in its higher time frame.

AUDJPY Medium-term Trend: Bearish (4H Chart)

On the medium-term outlook, the AUDJPY is bearish and anticipates a bullish reversal as the market is oversold and ready for an upward movement.

The sell traders made a downward move to the $96.10 support level before the end of yesterday’s session. This gave sellers more strength to continue with the trend in its recent low.

The market price of AUDJPY drops further to a $95.44 low mark below the moving averages as the 4-hourly session opens today due to low bullish momentum and anticipates a bullish reversal at its current support value.

Thus, if the bulls could push harder, the price of AUDJPY may experience a bullish reversal and turn positive to retest the $99.84 previous barrier, offering a good entry point for the long traders.

Additionally, the price of AUDJPY is below the 10% range of the daily stochastic, indicating that the market is oversold. The emergence of bulls is crucial at this stage, as the pair anticipates a bullish reversal. As a result, the next price target by the bulls might be the $115.00 upper resistance level in the coming days in its medium-term outlook.

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.