The currency pair is expected to rise soon.
Price pullback is pertinent at the current support level.
AUDJPY Weekly Price Analysis – July 21
At the moment the AUDJPY market is facing the downside. Meanwhile, the pair is expected to rise soon after the completion of the downward correction. The Yen could reverse and start to rise to hit the $109.15 previous high level. If this is achieved, the target might be the $110.00 upper resistance level, resulting in a buying opportunity for the long traders.
AUDJPY Market
Key Levels:
Resistance levels: $106.00, $107.00, $108.00
Support levels: $97.00, $96.00, $95.00
AUDJPY Long-term Trend: Bearish (Daily Chart)
On the higher time frame, the AUDJPY price is bearish; the Yen price is anticipated to rise soon to strengthen against the US Dollar.
The market is below the moving average, affirming its bearish race in its long-term outlook. 
Sellers’ increased momentum to the $104.97 low level in the past few days has dropped the Yen price below the supply levels in its recent low. However, the AUDJPY price is likely to rise soon as the market is oversold.
After updating the bullish correction at the $105.70 of yesterday’s high, the journey down south continues as the bears pushed the price of the Yen down to the $105.16 support value below the moving averages as the daily chart opens today.
Hence, the bullish momentum might be triggered, and the price could reverse at the mentioned support to break up the $109.15 previous high value, offering a good entry point for the long traders.
Meanwhile, the bulls are also preparing for their hike race to rise soon, while the market indicator shows that the currency pair is oversold already; it means that the selling pressure may end soon.
Hence, the AUDJPY price is expected to rise soon, and the target might be the $110.00 supply mark in the days ahead.
AUDJPY Medium-term Trend: Bearish (4H Chart)
The momentum on the medium-term time frame is also distinctly bearish. Nevertheless, it seems the price will rise soon as indicated by the daily signal.
Today’s 4-hourly chart opens with a bearish candle at the $105.48 support value below the EMA-50, suggesting that sellers’ inflow is higher and more active.
However, the trend might rise soon if the bulls could change their orientation and exchange hands with the sell traders at the $105.24 current support.
Hence, AUDJPY is showing more upside possibilities as indicated by the daily stochastic. More gains are from the bulls, and this might likely reach a high at $110.00 high level soon as the AUDJPY price prepares to rise soon, in its medium-term view.
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