{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/audjpy-price-is-dropping-and-this-may-continue\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/audjpy-price-is-dropping-and-this-may-continue\/","headline":"AUDJPY: Price Is Dropping and This May Continue","name":"AUDJPY: Price Is Dropping and This May Continue","description":"The currency pair is going in favor of the bears now.Price continuation to the downsides is pertinent.AUDJPY Weekly Price Analysis \u2013 October 29At the moment the AUDJPY market is dropping and this may continue. The pair is facing the negative side, if the $92.78 support level is broken down; the market price may depreciate to […]","datePublished":"2023-10-29","dateModified":"2023-10-29","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/10\/AUDJPY-LNT-3.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/10\/AUDJPY-LNT-3.png","height":528,"width":1080},"url":"https:\/\/forexschoolonline.com\/audjpy-price-is-dropping-and-this-may-continue\/","about":["Forex Trading Tools","FX Technical Analysis","Technical Analysis","Trade Idea","Trade Setups"],"wordCount":459,"keywords":["audjpy","Australian Dollar\/Japanese Yen","FX Technical Analysis"],"articleBody":"The currency pair is going in favor of the bears now.Price continuation to the downsides is pertinent.AUDJPY Weekly Price Analysis \u2013 October 29At the moment the AUDJPY market is dropping and this may continue. The pair is facing the negative side, if the $92.78 support level is broken down; the market price may depreciate to a low at the $90.25 price level as the bears aim to drag the market price to the lower support level of $80.00. AUDJPY MarketKey Levels:Resistance levels: $94.00, $95.00, $96.00Support levels: $92.00, $91.00, $90.00AUDJPY Long-term Trend: BearishDespite the interference of buyers in the price flow, the daily chart market shows that the AUDJPY price is dropping and this may continue. The price can be seen slightly below the EMA-50, indicating that the bears are regaining market strength. The sustained bearish pressure at the $94.76 support value in the past few days has pushed the Yen price below the supply levels in its recent low.The journey down south continues as the bears further pushed the price of the Yen down to the $94.67 support value below the EMA-50 as the daily chart opens today as sellers continue to dictate the market at the moment.Amid renewed selling momentum, if the sell traders increase their tension in the market the price of AUDJPY may likely challenge the previous low at $90.25 level which will further put the pair on a sell side.Adding to that, the currency pair may continue dropping and this may continue as indicated by the daily stochastic which is pointing down; this means that the selling pressure will continue and this might get to the $80.00 lower support level in the days ahead in its higher time frame.AUDJPY Medium-term Trend: BearishOn the 4-hour chart, the pair is also dropping below the EMA-50 and this may continue. The price movement of AUDJPY is currently seen to be in the bear\u2019s direction in the medium-term outlook. The strong push by the bears to the $94.86 supply trend level during the past session has contributed to its bearishness in its recent low.Today\u2019s 4-hour chart opens with a bearish candle at the $94.67 support value below the EMA-50. This suggests that the sellers\u2019 inflow is higher and more active at present. Additional efforts by the sell traders could drop the AUDJPY price further to retest the $ 93.01 previous support level.Notably, the daily stochastic which is pointing down suggests that the pair is dropping and this may continue. We therefore expect more strength from the bears and this might likely reach the $80.00 lower support level soon in its medium-term view.Note:\u00a0Forexschoolonline.com\u00a0is 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. "}