AUDJPY : Is Experiencing A Bearish Pressure

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

AUDJPY Weekly Price Analysis – July 25
AUDJPY is in a downward move as price reaches the low of $81.348


AUDJPY Market
Key Levels:

Resistance levels:   $85.840, $85.845 $85.850
Support levels:       $79.825, $79.820, $79.815

AUDJPY Long-term Trend: BearishAnalyzing the chart above, we can see that the AUDJPY is in a bearish market in its long-term outlook. Activities from the buyers moved the trend of the currency pair up to $81.471 in the resistance area before the close of yesterday’s session.

The momentum from the buyers continues as the daily chart opens today at $81.203 in the resistance area.

The impulse move by the buyers further moves the price of AUDJPY up to $81.656 in the resistance area.

The price of AUDJPY is initially up at $81.656 in the resistance area below the EMAs, an indication that the momentum is in a downtrend in the context of the strength of the market.

Meanwhile, the price of AUDJPY is in the oversold region of the daily stochastic pointing up at around level 26% in the oversold region. This indicates that the currency pair might possibly experience a trend reversal in the days ahead in the long-term and in this case an uptrend. Hence a buy signal.

AUDJPY Medium-term Trend: BullishAUDJPY is in an uptrend in its Medium-term outlook. The bulls managed to push the price of the Yen up at $81.477 in the resistance area shortly after yesterday’s opening.

AUDJPY afterward drops down to $81.334 in the support area as the 4-hourly chart opens today.
The momentum was lost as the bulls take over and move the price of the Yen up to $81.656 in the resistance area.

The sellers return briefly and drop the price of the currency pair down to $81.321 in the support area.

Price is now trading at $81.348 in the support area above the two EMAs which are glued together, this implies that the bulls are gradually getting weaker and the bears are coming in a gradual style.

The stochastic oscillator signals pointing downwards at around level 81% in the overbought region is an indication that the momentum in the price of the currency pair might likely remain in the same direction in the days ahead in the medium-term. Hence a sell signal.

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