The currency pair is ascending to the upper resistance levels.
The bulls remain dominant.
AUDJPY Weekly Price Analysis – December 15
The AUDJPY pair ascends to the upper resistance level as it faces increased buying pressure. The Yen could continue to rise upward if it breaks up the $109.15 resistance value and the daily candle closes above the mentioned resistance. The $115.00 upper supply level might be the target.
AUDJPY Market
Key Levels:
Resistance levels: $95.00, $96.00, $97.00
Support levels: $87.00, $86.000, $85.000
AUDJPY Long-term Trend: Bearish (Daily)
The daily chart market of AUDJPY shows a bearish race. Price is ascending towards the resistance line below the support of the price channel, suggesting a bearish trend.
Actions from the short traders at a $96.44 low value in the last few days have dropped Yen’s price beneath the supply trend lines in its recent high.
The market value of AUDJPY is ascending as it spikes up to the $97.95 high level above the EMA-50 as the daily session begins today, indicating an uptrend in the momentum of the price of the Yen.
A possible breakout from the current level above the $109.15 peak value will provide a higher float for buyers and prolong the ongoing recovery as it keeps ascending to the overhead resistance.
Hence, the AUDJPY price will keep ascending as indicated by the momentum indicator, pointing in an upward direction. As a result, the price of AUDJPY will remain in an ascending channel and a $115.00 high level might be the target in the days ahead in its higher time frame.
AUDJPY Medium-term Trend: Bullish (4H)
AUDJPY is in a bullish trend in its medium-term outlook. The price is ascending towards the overhead resistance above the supply trend levels. 
Despite the moves from the short traders, the bulls pushed the price of AUDJPY up to the $97.16 supply level in the previous session and sustained it, allowing the pair to maintain its upward momentum in its recent high.
The journey up north continues as the bulls caused a rise again in the price of AUDJPY to the $97.95 resistance value above the moving averages as the 4-hourly chart opens today, indicating the pair is in an ascending channel.
However, with the daily stochastic pointing in an upward direction, the bulls may likely continue with the trend. Therefore, if buyers should intensify their tension in the AUDJPY market and the prices break above the $102.36 resistance trend line, a bullish trend continuation to the overhead resistance of $115.00 is possible soon as the currency pair keeps ascending in the medium-term perspective.
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