AUDJPY is preparing for the next bearish trend, the breakdown is imminent.
The long traders may have temporal control in the market.
AUDJPY Weekly Price Analysis – June 25
AUDJPY price is dropping to the $80.000 lower support level. The AUDJPY pair is facing the downside at the moment as its dropping pattern just begins. The Yen could continue to slide down if it breaks down the $86.058 previous low value and the daily candle closes below the mentioned support. The $80.00 lower support 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 (Daily Chart)
The AUDJPY pair is in a bullish trend zone in its long-term outlook. Price is trading above the support channel; this however confirms the presence of a more bullish impact on the currency pair.
The high impact from the bulls at the $96.767 supply value during yesterday’s session has really made and sustained the pairs’ bullish momentum in recent times.
The sell traders made their way into the market and dropped the price value of AUDJPY down to a $96.676 low level above the two EMAs as the daily chart opens today. This however indicates an uptrend in the momentum of the price of the Yen
Increased momentum by the bears moves the market price of AUDJPY further down to the $95.253 support level as it journeys down south. A possible breakdown from the mentioned support level will provide a lower support zone for sellers and prolong the ongoing dips tour.
Hence, more downsides are possible as indicated by the momentum indicator which is in a downward direction. This means that the price of AUDJPY will continue its dumping pattern and a $80.000 lower support level might be the target in the days ahead in its higher time frame.
AUDJPY Medium-term Trend: Bullish (4H Chart)
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 $99.845 supply level during the previous session and sustained its upward momentum in recent times.
Exhaustion sets in as the bears return briefly and dropped the price of AUDJPY down to a $96.125 low level above EMA-50 but below the EMA-9 as the 4-hourly chart opens today. An indication of more pulls from sellers while the buying pressure is fading off gradually.
Sellers’ activities further drop the market price of the Yen down to the $95.966 support mark below the EMA-50; as the bears aim to continue with the trend. This means that the bears are returning gradually into the market to stage a play.
However, with the daily stochastic pointing downwards, the bears may likely continue with the trend. Therefore, if the sellers should intensify their tension in the market and the prices break below the $89.791 lower trend line, a bearish trend continuation to the lower support of $80.000 is possible soon in the medium-term perspective.
Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
Leave a Reply