The currency pair remains in an upside move.
The bulls are still dominating the market at the moment.
AUDJPY Weekly Price Analysis – April 2
The AUDJPY pair is facing an increase in buying pressure. The Yen could continue to rise upward if it breaks up the $98.388 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: $93.000, $94.000, $95.000
Support levels: $87.000, $86.000, $85.000
AUDJPY Long-term Trend: Bullish
Despite the interference of sellers in the price flow, the daily chart market of AUDJPY shows a bullish race. Price is trading above the support of the price channel again. This however confirms the presence of a more bullish impact on the currency pair.
The Yen has been making higher highs and higher lows in the previous actions at the $89.086 supply value; this has made it possible for the price to maintain an uptrend in its recent high.
The market value spikes up to the $89.306 high level above the EMA-9 as the daily session begins today; this however indicates an uptrend in the momentum of the price of the Yen.
Increase momentum by the bulls moves the market price of AUDJPY further up to the $89.685 resistance level as it journeys up north. 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 $100.000 high level might be the target in the days ahead in its higher time frame.
AUDJPY Medium-term Trend: Bullish
AUDJPY is in a bullish trend in its Medium-term outlook. The price bars can be sighted above the supply trend levels. 
Despite the moves from the short traders, the bulls managed to push the price of the Yen up to the $89.679 supply level during the previous session and sustained its upward momentum in its recent high.
The journey up north continues as the bulls caused a rise again to the price of AUDJPY to the $89.308 resistance value above the moving averages as the 4-hourly chart opens today. This indicates more active buy traders in the price flow.
Buyers’ activities further increase the market price of Yen up to the $89.321 supply mark as the bulls aim to continue with the trend.
However, with the daily stochastic pointing in an upward direction, this means the bulls may likely continue with the trend. Therefore, if the buyers should intensify their tension in the market and the prices break above the $92.965 resistance trend line, a bullish trend continuation to the overhead resistance of $100.000 is possible soon in the medium-term perspective.
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