AUDJPY Price Is Going In Favor Of Bulls

The currency continues to be comparatively more bullish in both the long-term and medium-term outlook.
Both the Medium-term outlook and the Long-term outlook are in an upward trend.

AUDJPY Weekly Price Analysis – April 27
Staying above EMA-50 might lead to strong growth for AUDJPY in the upper resistance area.

AUDJPY Market
Key Levels:

Resistance levels:  $84.220, $84.225 $84.230
Support levels:      $73.148, $73.145, $73.142

AUDJPY Long-term trend: BullishAUDJPY is having a bullish posture in the long-term outlook. Buyers’ increased momentum pushes the price up to $84.499 in the resistance area, in the daily chart yesterday. $84.284 in the resistance area, records the close of the day.

Today’s daily chart at $84.284 opens with a bearish inverted candle in the support area; this implies a trend reversal may likely occur.

The currency further drops to $84.184 in the support area, due to the brief’s return by the sellers shortly after today’s daily session opening.

The price of AUDJPY is initially down now at $84.420 and trading above the two EMAs, this indicates the price of the currency pair is in an upward momentum in the context of the strength of the market.

The stochastic oscillator signal pointing upwards at around level 38% in the oversold region suggests that the price of AUDJPY might remain in an upward trend in the days ahead in the long term.

AUDJPY Medium-term trend: BullishThe momentum on the medium-term time frame is also distinctly bullish. It seems the bulls are taking over and push us higher.

Today’s 4-hour chart opens with a bullish candle at $84.271 in the resistance area as the buyers return briefly.

Activities from the sellers drop AUDJPY price to $84.184 in the support area and later at $ 84.080 in the support area.

The Price trading above the two EMAs suggests the momentum in price of the currency pair is in an uptrend.

However, the stochastic oscillator signal pointing down at around level 77% in the overbought region suggests a downward momentum in the price of AUDJPY in the medium- term. Likewise, sellers may remain dominant in the market in the nearby days.

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