The currency pair is in a bearish scenario.
Price breakup is pertinent at the current supply level.
AUDJPY Weekly Price Analysis – December 17
The AUDJPY pair is on its way up ascending to the resistance trend levels as the bulls took to their stand to push the Yen price higher. Meanwhile, the Yen could continue ascending upward if it breaks up the $98.58 high level and the daily candle closes above the mentioned resistance. The $99.00 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: Bearish
AUDJPY’s price is bearish. However, the Yen is ascending to the overhead resistance now as the bulls took to their stand to take us higher in its long-term outlook. 
The sellers’ increased momentum to a $94.57 low value during yesterday’s session has dropped the Yen price below the supply level in its recent price level.
The price of AUDJPY made a pullback today by ascending to a $95.44 high level below the EMA-50 on the daily chart. This is an indication that the bulls are returning to the market to stage a play.
Therefore, if the bulls increase their tension in the market, the price tendency will ascend above the $98.58 previous high level which would be a great buy opportunity for the long-term traders.
Notably, the market price of AUDJPY may continue ascending upwards as shown by the daily stochastic which is pointing up in the oversold region. This means that the selling pressure has reached exhaustion, and the expected upside move in the price could be high at $99.00 value in the coming days in its long-term outlook.
AUDJPY Medium-term Trend: Bearish
The momentum on the medium-term time frame is also distinctly bearish. Nevertheless, it seems that the bulls will take over the price of AUDJPY soon and push us higher as the market is now ascending to the resistance level.
The bears’ pressure on the pair to a $94.86 low value in the past few hours has contributed to its bearishness in its recent high.
The bulls caused a rise again to the price of AUDJPY to the $95.34 resistance value below the moving average as the 4-hour chart opens today. This indicates more active buy traders in the price flow.
Hence, AUDJPY is showing more upside possibilities as indicated by the daily stochastic, we therefore expect more gains from the bulls as the price of AUDJPY ascends upwards and this might likely reach a high at $99.00 level soon in its medium-term view.
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