The currency pair remains in an upside move.
The bulls are still dominating the market at the moment.
AUDJPY Weekly Price Analysis – April 30
The AUDJPY pair is facing an increase in buying pressure and also maintains its bullish race. If the buy traders could prove stronger and the price shows sustainability above the $98.388 previous high value, its upside moves could extend further to reach a $100.000 high level and beyond.
AUDJPY Market
Key Levels:
Resistance levels: $94.000, $95.000, $96.000
Support levels: $87.000, $86.000, $85.000
AUDJPY Long-term Trend: Bullish
Despite the interference of sellers in the price flow, the daily chart market of AUDJPY shows a bullish race. Price is trading above the supply channel again. This however confirms the presence of a more bullish impact on the currency pair.
The sustained bullish pressure pushed the currency pair up to the $88.857 supply level during yesterday’s session and sustained it. This has made it capable for the coin to remain firm in an uptrend in its recent price level.
The momentum continues as the bulls made a corrective move to a high at $89.554 mark above the EMA-9 with its wick touching the EMA-50 as the daily chart opens today. This however indicates an uptrend in the momentum of the price of the Yen.
Increase momentum by the bulls moves the market price of AUDJPY further up to the $89.648 resistance level as it journeys up north. This shows the high impact of the buy investors on the Yen market; likewise, the downside risk remained uncertain.
Hence, fresh entries by the buy investors toward the higher side are likely as indicated by the momentum indicator pointing in an upward direction, the bulls could therefore aim at the psychological level of $100.000 resistance value in the days ahead as the currency pair maintains its bullish race in its long-term perspective.
AUDJPY Medium-term Trend: Bullish
The AUDJPY pair portrays a bullish sentiment in its medium-term perspective. Buyers are confident about gaining higher levels and this confirms their high impact in the market at present. 
The Yen price can now be seen progressing upward above the resistance trend lines matching the upper resistance levels. This shows that buyers are currently gaining more strength in the market.
Despite the moves from the short traders, the bulls managed to push the price of the Yen up to the $88.948 supply level during the previous session and sustained its upward momentum in its recent high.
Today, the bulls made an upward move to the $89.648 high value above the supply trend levels as the 4-hourly chart opens. The AUDJPY pair looks promising as the bulls remain dominant in the market at the moment. If the bulls should increase their price action, and bullish momentum is sustained far above the resistance trend lines, further bearish sentiment will be hibernated.
Additionally, the daily stochastic remains in an upward direction. Hence, if the buy traders manage to break above the $90.669 previous supply trend line, the market participants may witness a new recovery rally and this may likely reach the $100.000 high mark in the days ahead in its medium-term time frame. This signals a BUY trade again in its medium-term perspective.
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