AUDJPY: Price Anticipates a Rise Soon

The currency pair anticipates a rise soon as it remains in a bearish scenario.
Price pullback is pertinent at the $95.33 current support level.

AUDJPY Weekly Price Analysis – August 4
The AUDJPY pair anticipates a rise soon as the selling pressure hits an exhaustion level. Meanwhile, the pair might finish the downward correction and start reversing soon. If this is achieved, the pair might retest the $109.15 previous resistance and extend to the $112.00 upper resistance level, resulting in a potential buy opportunity for the long traders.

AUDJPY Market
Key Levels:
Resistance levels: $100.00, $101.00, $102.00
Support levels:    $95.00, $94.00, $93.00

AUDJPY Long-term Trend: Bearish (Daily Chart)
AUDJPY‘s price is bearish. Meanwhile, the price anticipates a rise soon, as the selling pressure seems exhausted in its long-term outlook. The price keeps making lower lows and lower highs below the EMA-50, confirming its bearishness.

The sellers increased momentum drove the price down to a $97.00 low level, during yesterday’s session and sustained it which enabled the Yen price to remain below the resistance level in its recent low.

The journey down south continues as the bears further pushed the price of AUDJPY to the $95.33 support value below the moving averages as the daily chart opens today, indicating a bearish trend.

However, the bulls anticipate a rise soon, as the currency pair is already oversold. Therefore, if the bulls increase their swagger, the AUDJPY may reverse at the $95.33 support level to hit the $109.15 high level, suggesting a good entry point for the bulls.

Further, the daily indicator shows that the currency pair is oversold already; it means that the pair could rise soon and the target might be the $112.00 upper resistance mark in the days ahead as the bulls anticipate a rise soon in the long-term outlook.

AUDJPY Medium-term Trend: Bearish (4H Chart)
The momentum on the medium-term time frame is also distinctly bearish. Nevertheless, the AUDJPY pair anticipates a rise soon as the market is already oversold. So, it seems the bulls will take over the price of AUDJPY soon and push us higher as the market now trades in the oversold region.

Today’s 4-hourly chart at $95.33 support level below the moving average is bearish, due to low bullish momentum. Meanwhile, the AUDJPY price anticipates a rise soon as a reversal at the $95.33 low mark is pertinent.

Therefore, if the bulls could accelerate the buying motive, a price reversal at the mentioned support is relevant and may lead the yen price to revisit the $109.32 high, suggesting a good entry point for the buy traders.

Hence, the AUDJPY pair anticipates a rise soon and shows more upside possibilities as indicated by the daily stochastic pointing upwards, we therefore expect more gains from the bulls, and this might likely reach a high at $112.00 upper high level soon in its medium-term view.

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.