AUDJPY – Watch Out for Buy!

The currency pair is going in favor of the bulls now.
Overall market sentiment regarding the pair remains bullish.

AUDJPY Weekly Price Analysis – July 10
AUDJPY is going in favor of the bulls now and also displaying a buy signal. Therefore, if the buyers should increase their price action in the market $96.990 upper resistance level may be the target.


AUDJPY Market
Key Levels:
Resistance levels: $94.000, $94.100 $94.200
Support levels:  $91.500, $91.400, $91.300

AUDJPY Long-term Trend: BullishAnalyzing the chart above, we can see that the AUDJPY is in a bullish market in its long-term outlook.

The bulls have controlled the market for the past few days. However, the price action has risen since yesterday’s interference from the bulls that moved the price up to a $93.164 high level during yesterday’s session and sustained it.

The bullish momentum continues with the formation of a bullish pin bar candle at the $93.241resistance level as the daily session opens today.

The market value of AUDJPY is initially up now at a $93.479 high level which is above the moving averages, this means that the momentum in the price of the Yen is in an uptrend.

The AUDJPY pair is in an upward direction in the oversold region of the daily stochastic at around level 43%; it indicates that the buying pressure may likely continue and remain in the same direction in the days ahead in the long-term perspective.

Hence, buyers may put in their aggressive order at the key position.

AUDJPY Medium-term Trend: BullishOn the 4-hour chart, the pair is in a bullish market zone. The impulsive move by the bulls pushes the price of AUDJPY up to the $93.241 resistance level, as the 4-hourly chat opens today.

Pressure from the buyers further moves the price of AUDJPY up to $93.340 high level above the two EMAs, this suggests that the momentum in the price of the Yen is in an upward move and the price action is at the buyers’ disposal at present.

The stochastic oscillator signal pointing up at around level 80% in the overbought region suggests that the currency pair may likely remain or continue its upward move at the moment and in the days ahead in the medium term.

Hence, buyers may take their position as desired at the moment.

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