The currency pair is in a bullish scenario.
The bulls will go higher; buyers can put in their aggressive orders.
AUDJPY Weekly Price Analysis – September 4
At the moment the AUDJPY market is facing the upside as the bulls aim to drag the market price to the upper resistance level of $97.000.
Resistance levels: $95.500, $95.600, $95.700
Support levels: $92.500, $92.400, $92.300
AUDJPY Long-term Trend: BullishAUDJPY price is moving in an uptrend in the (1D) timeframe, making higher highs and moving toward its major resistance. The price bar can be seen above the moving averages, this affirms its bullish race in its long-term outlook. The bulls’ increased momentum pushed the price up to a $95.148 high level, during yesterday’s session and sustained it.
Increase momentum by the bulls moves the market price of the Yen further up to the $96.041 resistance level above the two EMAs as the daily chart opens today it journey up north. An indication of more gains for the buy traders in the market.
Further, the price signal points up, indicating that the price value of the AUDJPY pair still remains in an uptrend. It means that the price may likely grow up to reach a $97.000 supply level soon in its higher time frame.
AUDJPY Medium-term Trend: Bullish
On the medium-term chart below, the pair is in an upward move. The price movement of AUDJPY is currently seen to be in the bull’s direction.
The price action rises significantly to the $95.937 resistance level above the two EMAs as the 4-hourly chart opens today. This implies that the price of the AUDJPY is in upward momentum and in control of the buyers at the moment.
The daily stochastic which is pointing up at around level 54% approaching the overbought region also indicates that the price of AUDJPY is in an uptrend and may likely remain or continue in the same direction in the nearby days in its medium-term outlook.
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