The AUDJPY pair is in a bearish trend both in the medium-term and long-term outlooks.
The bears might have temporal control soon as the bulls are set to take over the market.
AUDJPY Weekly Price Analysis – March 26
There is a possibility for the AUDJPY pair to resume the bullish momentum soon. If buyers could prove stronger and exchange hands with sellers at the current support level of $86.058, the Yen may possibly retrace to retest the $98.388 previous high and beyond.
AUDJPY Market
Key Levels:
Resistance levels: $94.000, $95.000 $96.000
Support levels: $88.000, $87.000, $86.000
AUDJPY Long-term Trend: Bearish (Daily Chart)
AUDJPY is bearish on the daily chart. The price action can be seen below the moving averages which have confirmed its bearishness. The impulse move to the $86.921 support level during yesterday’s session has sustained the Yen price below the supply trend levels in its recent low.
Today, the bears however made a drop to the $86.448 support below the two moving averages. This indicates a downward trend in the context of the strength of the market.
The increased momentum by the bears further dropped the market price of AUDJPY down to the $86.058 low value in the support area. Therefore, if the bulls increase their tension in the market, the price tendency will move above the supply trend levels.
In a like manner, AUDJPY is likely going to reverse and face the upsides as the market is now trading around the 8% range of the daily stochastic; it means that the selling pressure will end soon. This will compel the buy traders to resume an uptrend and may likely break up the $98.388 supply level soon in its higher time frame.
AUDJPY Medium-term Trend: Bearish (4H)
On the medium-term outlook, the AUDJPY pair is also in a bearish momentum. The price bar in green is below the two moving averages indicating a bearish trend. 
The interference of the bears at the $87.190 support level in the previous action has made the crypto price trade below the supply trend level in its recent high.
After completing the low dips, the bulls actually caused a rise to the $86.448 high level below the two moving averages as a pullback to resume the upward rally.
Additional efforts by the bulls further pushed the price of AUDJPY up to the $86.657 resistance level, this implies that the bulls are returning to the market to control and dominate the price action.
Moreover, there is a higher probability of the price breaking up its resistance level of $93.036 and going up much further if the bulls could add extra effort to their buying activities.
Next, the daily signal is now pointing upward in the oversold region, this suggests that the selling pressure has subsided and AUDJPY will most likely continue the bullish movement.
This new bullish pattern may extend the price of the Yen to the $96.388 supply trend levels in
the coming days in its medium-term perspective. Buyers may wait for this action to commence before taking a position in the medium term.
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.
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