AUDJPY – Shows a Bullish Flag, Buy!

The price bars are above the moving averages, indicating a bullish flag.
Buy traders may take their position as desired.

AUDJPY Weekly Price Analysis – October 27

The AUDJPY pair is witnessing a resurgence as it shows a bullish flag, trading in a strong bullish market. The Yen is exhibiting a robust trajectory buoyed by broader market recoveries and might likely increase if the bulls could add more strength to their potential buying and the market price sustains above the $101.25 high mark, the potential rally could surge above the $109.15 higher level to hit the $110.00 upper resistance value and beyond, suggesting a buying opportunity for the bulls.

AUDJPY Market
Key Levels:
Resistance levels: $100.00, $101.00 $102.00
Support levels: $89.00, $88.00, $87.00

AUDJPY Long-term Trend: Bullish (Daily Chart)

AUDJPY pair shows a bullish flag today. The price remains firm above the supply level, suggesting a bullish trend in its higher time frame. This looks nice for the long trader and signifies a buy signal.

Previously, the currency pair experienced high interference from buyers, which made it easier for the pair to maintain stable upside moves and show a bullish flag in its recent high.

The AUDJPY price breakout at the $101.05 resistance value above the EMA-50 as the daily chart opens today indicates or shows a bullish flag and the high buying impact from the bulls, resulting in intraday gains.

Based on the outlook, a bullish breakout confirmation will reflect the improved market sentiment should the bulls go higher and close above the $101.25 high mark.

Similarly, the market sentiment suggests an uptrend continuation in the coming days as indicated by the daily stochastic. It is expected of buyers to push the price of AUDJPY further up to a significant level in the upsides and in this case, the target might be the $110.00 upper resistance level as the pair shows a bullish flag in the higher time frame.

AUDJPY Medium-term Trend: Bullish (4H Chart)

In the medium-term time frame, the market value of AUDJPY shows a bullish flag. The prices are above the moving averages and have confirmed a bullish momentum. The pair is in a smooth uptrend as seen from the chart below.

The sustained bullish pressure at the $100.87 supply level in the last session has made it possible for the pair to show a bullish flag and remain firm in an uptrend in its recent high.

As the 4-hourly chart begins today, the price of AUDJPY rises significantly above the resistance trend lines at the $101.03 level, suggesting a bullish flag. This is due to a high bullish impact on the market price.

Hence, AUDJPY is showing more upside continuity as indicated by the daily stochastic pointing up. We can certainly expect more gains and strength from the pair as the bulls continue to dictate market conditions. The pair may reach the $110.00 resistance level in the days ahead, as it shows a bullish flag in its medium-term perspective.

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.