The currency pair is in a bullish market zone.
Buyers are still dominating the market.
AUDJPY Weekly Price Analysis – November 26
At the moment the AUDJPY is very bullish, the pair now trades strongly above the moving averages and looks good for buyers. However, the rising pattern might likely continue, if the bulls could increase their momentum and further selling pressure is hibernated. The bullish trend could possibly reach the $99.00 upper resistance level and beyond.
AUDJPY Market
Key Levels:
Resistance levels: $95.00, $96.00, $97.00
Support levels: $92.00, $91.00, $90.00
AUDJPY Long-term Trend: Bullish (Daily Chart)
The AUDJPY pair is very bullish and remains in an upward move in its long-term perspective as can be seen undeniably from the daily chart. The long traders are actively involved in the trading activities at the moment and the price bars are above the supply trend lines.
The sustained bullish pressure on the Yen in the past few days has made the price stay above the supply trend levels in its recent high.
The journey up north continues as the daily chart opens today with a bullish candle at the $98.27 supply value above the EMA-50. This implies that the long traders are in charge and also in control of the market prices at present.
The impulse move by the long traders further pushes up the market value of AUDJPY to the $98.53 resistance value above the supply levels, an indication of an upward trend in the context of the strength of the market. This calls for buyers to put in their orders as it is sensible to go long at the moment.
In addition to that, the momentum indicator shows that the price signal is also moving upward, so, we expect the bulls to continue with the hike and the price distribution may likely hit the $99.00 upper resistance mark soon in its long-term perspective.
AUDJPY Medium-term Trend: Bullish (4H Chart)
On the 4-hourly chart, the AUDJPY pair remains very bullish and also in an upward move. The price is currently seen to be in the bulls’ direction in the medium-term outlook. 
The sustained bullish pressure moved the pair up to the $98.13 supply level during the previous action which has made it possible for the Yen to remain very bullish in its recent high.
The price action rose significantly to the $98.27 high value above the moving average lines as the 4-hourly chart opens today.
Buyers’ activities further moved the market price of AUDJPY up to the $98.53 supply level as the bulls aim to continue with the trend.
Hence, the daily stochastic which is pointing downwards at around level 96% indicates that the price of AUDJPY is in upward momentum and may likely remain or continue in the same direction, as a result of this, the bulls might push the price of the Yen further up to the $99.00 upper high value soon in its medium-term outlook.
Therefore, buyers may take their position as desired.
Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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