The currency pair remains in an upside move.
The bulls are still dominating the market at the moment.
AUDJPY Weekly Price Analysis – March 3
The AUDJPY pair is ascending to the $100.00 key resistance level at the upside as it faces an increase in buying pressure right now. The Yen could continue to rise upward if it breaks up the $98.05 resistance value and the daily candle closes above the mentioned resistance. The $100.00 upper supply level might be the target.
AUDJPY Market
Key Levels:
Resistance levels: $95.00, $96.00, $97.00
Support levels: $92.00, $91.00, $90.00
AUDJPY Long-term Trend: Bullish
Despite the interference of sellers in the price flow, the AUDJPY price is ascending to the key resistance level at the upside on the daily chart. 
Price is trading above the supply of the price channel again. This however confirms the presence of a more bullish impact on the currency pair.
The persistent bullish pressure in the past few days has made it possible for the Yen to remain firm in an ascending channel in its recent high.
The current price of the AUDJPY pair at the $97.93 high level above the EMA-50 as the daily session opens today indicates an uptrend in the context of the strength of the market. This gives room for a more bullish impact in the market at the moment as it continues in an ascending order.
The long-term traders can grab this short bullish upswing to the overhead resistance, but the fate of AUDJPY’s near future price depends on the range breakout. A possible breakout from the mentioned supply level will provide a higher float for buyers and prolong the ongoing recovery.
Hence, more upsides are possible as indicated by the momentum indicator which is in an upward direction. This means that the price of AUDJPY will remain in an ascending channel and a $100.00 high level might be the target soon in its higher time frame.
AUDJPY Medium-term Trend: Bearish
The market price of AUDJPY is currently seen below the supply level ascending to the resistance trend line in its medium-term outlook.
The bearish pressure at the $97.35 support level in the past few hours has made the Yen price stay below the supply trend levels in its recent price level. However, the bulls are about to take the price up as the pair now remain in an ascending level facing the resistance zone.
The market value of AUDJPY spikes up to the $97.93 high level below the EMA-50 as the 4-hour session begins today; this however indicates the return of the bulls to take the market value of the currency pair in an ascending channel to dominate soon.
However, the currency pair could grow further if the buy traders managed to break up the $99.02 previous high level, maintaining a further growth potential for the buy traders.
However, with the daily stochastic pointing in an upward direction, this means the bulls may likely continue in an ascending channel.
Therefore, if buyers should intensify their tension in the market and the prices break above the $99.02 resistance trend line, a bullish trend continuation to the overhead resistance of $100.00 is possible soon in the medium-term perspective.
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