The currency pair is in a bearish scenario, anticipating to rise soon.
Price breakout is pertinent at the current supply level.
AUDJPY Weekly Price Analysis – July 28
The AUDJPY market is facing a resistance level, attempting to rise soon. The Yen price is making its way up after completing the lows. Hence, should the buying pressure persist, and the bulls close the hourly chart above the $109.15 previous high mark, the ongoing recovery could lead the Yen price to hit the $110.00 upper resistance level, resulting in a buying opportunity for the long traders.
AUDJPY Market
Key Levels:
Resistance levels: $100.00, $101.00, $102.00
Support levels: $94.00, $93.00, $92.00
AUDJPY Long-term Trend: Bearish (Daily Chart)
AUDJPY‘s price is bearish. The price is likely to rise soon as it shows a sign of retracement below the moving average, affirming a bearish momentum in its long-term outlook. 
The sellers’ increased momentum to a $99.20 low mark during yesterday’s session has dropped the pair below the resistance level in its recent price level.
Today, the long traders pulled back at the $101.49 high level below the EMA-50, as the daily chart opened, indicating that the AUDJPY price will rise soon.
Under the influence of this market level, the Yen price could rise soon and break up the previous high of $109.15, suggesting a buy signal for long traders.
Additionally, the bulls are preparing for their hike race while the market indicator shows that the AUDJPY pair is already oversold: it means that the buy traders will continue the bull race, and the price may rise to the $110.00 upper resistance level in the coming days. Hence a sellers’ relief.
AUDJPY Medium-term Trend: Bearish (4H Chart)
The momentum on the medium-term time frame is also distinctly bearish. Nevertheless, it seems the price of AUDJPY will rise soon as the bulls are about to take over the Yen price and push us higher as the market remains upward on the daily signals.
Today’s 4-hourly chart opens with a bullish candle at the $100.94 supply value below the EMA-50, suggesting the currency pair will rise soon, as the bulls return gradually to stage a play.
Meanwhile, a further rise in the market price of AUDJPY is possible, if the buy traders can trigger their buying pressure and break up the $109.32 level, further bearish thesis may be restricted from loading.
Hence, AUDJPY is showing more upside possibilities as indicated by the daily stochastic, pointing upwards. We expect more gains from the bulls, and this might likely reach a high at $110.00 high level in the days ahead as the Yen anticipates rising soon in its medium-term view.
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