The currency pair is anticipating a rise.
Price pullback is pertinent at the $102.97 current support level.
AUDJPY Weekly Price Analysis – June 9
At the moment, the AUDJPY market is facing the downside. Meanwhile, the pair is anticipating a rise at the $102.97 current support level. The Yen might finish the downward correction and start reversing soon. If achieved, the target may swing up to retest the $104.68 resistance, extending further to the $105.00 upper resistance level. Hence, sellers’ relief.
AUDJPY Market
Key Levels:
Resistance levels: $102.00, $103.00, $104.00
Support levels: $94.00, $93.00, $92.00
AUDJPY Long-term Trend: Bullish (Daily Chart)
Although the AUDJPY price is bullish, the price is still anticipating a rise soon on the daily chart. Despite the Bears’ interference, the Yen price remains above the moving average; this affirms its bullish race in its long-term outlook. 
The bulls’ increased momentum to a $104.00 high level in the last few days has sustained the pair above the resistance level in recent times.
The bears in the road briefly dropped the AUDJPY price to a low of $102.97 above the EMA-50 as the daily chart opened today. This indicates an upward trend in the context of the strength of the market.
Hence, staying above the supply levels makes it possible for the pair to rise further. Meanwhile, the bulls are anticipating to rise soon; if the bullish momentum could be triggered the price may break up the $104.78 previous high value resulting in an intraday gain for buyers.
However, the bulls are also preparing for their hike race while the market indicator shows that the currency pair is oversold already; this means that the buy traders are anticipating a rise soon and the target might be the $105.00 upper resistance level, resulting in a buy opportunity for the long traders.
AUDJPY Medium-term Trend: Bearish (4H Chart)
The momentum on the medium-term time frame is also distinctly bearish. Nevertheless, it seems the bulls are anticipating a rise to take over the price of AUDJPY soon and pushing us higher as the market now trades at the oversold region.
Today’s 4-hourly chart opens with a bearish candle at the $102.97 support value below the EMA-50. This suggests that the sellers’ inflow is higher and more active at present.
Hence, should the bulls exchange hands with the sell traders and close above the $104.86 resistance value, additional intraday gains would be recorded for the buy investors.
Hence, the AUDJPY market is oversold already. This suggests that the Yen price is anticipating a rise soon. This will compel the bulls to resume the bullish trend soon and this might likely reach a high at $105.00 high level sooner in its medium-term view.
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