AUDJPY: Price Anticipates a Rise Soon

The currency pair anticipates a rise soon as it remains stylishly bearish.
Price pullback is pertinent at the current support level.

AUDJPY Weekly Price Analysis – November 10

Currently, the AUDJPY pair anticipates a rise when the selling pressure subsides. Meanwhile, if the buy traders could speed up their activities, the pair might finish the downward correction and start reversing soon. The target may be the $110.00 upper resistance level if this is achieved, signaling a potential buy for long traders.

AUDJPY Market
Key Levels:
Resistance levels: $100.00, $101.00, $102.00
Support levels: $90.00, $89.00, $88.00

AUDJPY Long-term Trend: Bullish (Daily Chart)

Despite the interference of sellers, AUDJPY’s price is bullish and anticipates a rise soon. The price bar remains above the supply levels, suggesting a bullish market in its long-term outlook.

Buyers’ congestion at the $102.39 high mark in the last session has made the currency pair stay above the supply levels in its recent low price.

Today, the AUDJPY price anticipates a rise, as the bears drop the Yen price to a low at $100.13 support level above the EMA-50 as the daily session opens.

Hence, staying above the supply levels will enable the bulls to influence the price tendency; therefore, if the bulls could add extra buying pressure, the Yen price could reverse from the $100.13 low mark and rise to hit the $109.15 barrier level, signaling the potential for significant gains for long traders.

However, the AUDJPY market anticipates a rise soon as it approaches the oversold region, indicating the pair may reverse from the $100.13 low level and turn positive to reach the $110.00 upper resistance in the upcoming days as the pair anticipates a rise soon in the long-term perspective.

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

The momentum on the medium-term time frame is distinctly bearish. Nevertheless, the pair anticipates a rise as the bulls resume the bullish trend. It seems the bulls will take over the price of AUDJPY, pushing us higher as the market now trades at the oversold region.

Today’s 4-hourly chart shows that the Yen price anticipates a rise as the market experienced a pulled back to a $100.46 high mark below the EMA-50 as the 4-hourly session opens today.

Thus, if the AUDJPY buyers could push harder, the bullish trend might continue to reach the $102.36 resistance level, hinting at a robust upward trajectory.

Hence, AUDJPY is showing more upside possibilities as indicated by the daily stochastic pointing at the oversold region. We expect more gains from the bulls, and this might reach a high at the $110.00 level, as the Yen price anticipates a rise soon in its medium-term view.

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