The pair remains in an upward move in both the long-term and medium-term time frames.
Buyers may put in their aggressive orders at key areas
AUDJPY Weekly Price Analysis – June 26
AUDJPY may continue its bullish trend provided the $92.642 support level holds. Further increase in the bulls’ action will definitely push the price upside.
Resistance levels: $95.230, $95.335 $95.435
Support levels: $89.295, $89.195, $89.095
AUDJPY Long-term Trend (1D): BullishOn the daily chart, the AUDJPY currency pair is trading above the moving averages, which is a bullish trend zone.
The sustained bearish pressure dropped the pair to $92.642 and closes at $93.024 in the support area during yesterday’s session.
The bears lost the momentum as the buyers return to the market as the daily chart opens today at the $93.024 resistance level.
The aggressive move by the buyers further increase the price of AUDJPY up to the $93.826 resistance level as it journeys up north.
The price action of the Yen is up at $94.022 high level above the two EMAs, this implies that the price of AUDJPY is in control of the bulls; therefore it’s in an upward trend.
The pair is pointing up around level 36% of the daily stochastic in the oversold region; this shows that the selling pressure is exhausted, the further upward move is likely as we expect the buyers to move the price distribution up to a significant level in the days ahead in its long-term view.
AUDJPY Medium-term Trend (4H): BullishThe currency pair remains in a bullish trend zone in the medium-term perspective. The bulls are determined to push us higher.
Today’s 4-hourly chart opens with a bearish pin bar at a $93.255 low level. An indication of a trend reversal.
The bulls return briefly and move the market value of AUDJPY up to the $94.022 resistance value as the 4-hourly session continues. The price which is above the two EMAs implies that the bulls are in control of the market at the moment.
AUDJPY pair pointing up at around level 59% range of the daily stochastic indicates that the pair is in a bullish momentum in its medium-term outlook.
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