AUDJPY – Where Are The Bulls?

AUDJPY is facing an increase in selling pressure and it could continue to slide if it breaks $79.467.
Overall, the bears are in the dominance of the market.

AUDJPY Weekly Price Analysis – June 20
If the support level is broken the market will depreciate to a low at $79.115 price level.

AUDJPY Market
Key Levels:

Resistance levels:  $84.930, $84.940 $84.950
Support levels:      $79.126, $79.121, $79.115

AUDJPY Long-term Trend: BearishAUDJPY is in a bearish trend in its long-term outlook. The pressure from the bears moved the price of the Yen down to $83.066 as the low of yesterday in the support area.

The bears sustain pressure opens today’s daily chart at $83.182 in the support area.

The journey down south continues as the bears drop the price of the currency pair down to $82.387 in the support area below the two EMAs. This indicates that the momentum in the price of AUDJPY is in a downtrend.

The signal from the stochastic oscillator pointing downwards at around level 5% in the oversold area implies that the price of the yen might continue in the same trend in the days ahead, and in this case a sell signal.

AUDJPY Medium-term Trend: BearishThe currency pair is in a downward trend in its medium-term outlook. The bulls return briefly and pushed the price of the Yen up at $83.380 in the resistance area during yesterday’s session.

The momentum was lost as the bear sets in and opens today’s 4-hourly chart at $83.284 in the support area.

Pressure from the bears drops the price of AUDJPY down to $82.390 in the support area below the two EMAs. This is an indication that the momentum in the price of the Yen is in a downtrend.

The stochastic oscillator signal pointing down at around level 5% in the oversold region suggests that the price of AUDJPY might likely continue in the same direction which is a downtrend and a sell signal.

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