AUDJPY Shows a Bullish Flag

The currency pair shows a bullish flag and maintains its bullish trend.
The bulls are still dominating the market at the moment.

AUDJPY Weekly Price Analysis – July 7
AUDJPY pair shows a bullish flag and maintains its bullish momentum facing the upper channel. The Yen price is experiencing a massive inflow by the bulls, registering about 0.02% growth at the press time. Thus, if the Yen closes above the current level at the $108.59 high mark, the accelerated buying pressure may increase the currency pair price to hit a new all-time high at the $110.00 upper resistance level, indicating a growth opportunity of 20%. Thus, a potential buy signal.

AUDJPY Market
Key Levels:
Resistance levels: $106.00, $107.00, $108.00
Support levels:     95.00, $94.00, $93.00

AUDJPY Long-term Trend: Bullish (Daily chart)
The long-term market value of AUDJPY shows a bullish flag and maintains its bullish trend as seen in the chart above. The currency pair is approaching the upper resistance and confirms a bullish race due to the high impact of the buy investors in the Yen.

However, the bulls’ pressure to the $108.39 high value during the past session has sustained the Yen price to show a bull flag and maintain its bullish trend above the resistance trend levels in its recent high.

At the time of writing this article, the AUDJPY shows a bullish flag as it finds a reliable resistance at $108.59 value above the moving averages as the daily session begins today, resulting in intraday gains, extending the positive trend and stimulating the influx of new buyers into the market, as it maintains its bullish trend.

Thus, a possible breakout from the mentioned supply level will provide a higher float for buyers and prolong the ongoing recovery.

Additionally, the price signal is pointing upwards, indicating a bullish trend: in this case, the price of AUDJPY may continue to show a bullish flag and jump up to hit the $160.00 supply mark sooner as it maintains its bullish trend in the long term outlook.

AUDJPY Medium-term Trend: Bullish (4H Chart)
Analyzing the chart below, the AUDJPY pair shows a bullish flag and maintains its bullish trend on the medium-term outlook. The price currently trades above the EMA-50, making higher highs and moving towards the major upper resistance area.

The sustained bullish pressure at the $108.44 high level during the past session has enhanced the Yen price to show a bullish flag and maintain its bullish trend in its recent high.

Earlier today, long traders pushed the AUDJPY price to a high of $108.57, above the moving averages as the 4-hourly chart opens, showing a bullish flag and creating an area of interest for buyers.

Hence, holding above the supply levels indicates a high probability of a bullish correction. A solid break above the $108.57 current barrier level would increase the positive pressure.

Furthermore, the market shows an uptrend on the daily signal. The currency pair may continue to show a bullish flag and maintain its bullish trend.

If AUDJPY buyers can maintain their position above the $108.57 high value and close a candle, closing above the indicated resistance will indicate a probable BUY. As a result, the Yen price may rise soon to the upper resistance level of $160.00 in the medium-term forecast.

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.