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AUDJPY: Price Remains a Good Buy at $102.17 Level

Johnathon Fox
04/28/2024 | UPDATED ON: 04/28/2024

AUDJPY remains a good buy at the $102.17 level
The pair is going in favor of the bulls on both outlooks

AUDJPY Weekly Price Analysis – April 28
AUDJPY market price remains a good buy at the $102.17 level while trading strongly above the supply levels. If the bulls can add additional efforts to their buying pressure and the coin price could sustain above the current resistance at the $102.17 level, the Yen price may trigger up to the overhead resistance mark at the $103.00 level, thus a clear buy signal for the buy investors.

AUDJPY Market
Key Levels:
Resistance levels: $100.00, $101.00, $102.00
Support levels: $93.00, $92.00, $91.00

AUDJPY Long-term Trend: Bullish (Daily Chart)
AUDJPY pair is bullish on the daily chart. The pair remains a good buy at the $102.17 high level above the moving average approaching the upper resistance level. The Yen is very likely to continue moving upwards as we are seeing a strong turnout of buyers.
AUDJPY: Price Remains a Good Buy at $102.17 Level
However, the bulls’ pressure to the $101.45 high value during yesterday’s session has sustained the Yen price to remain a good buy above the resistance trend levels in its recent high.

Today’s daily bullish candle at the $101.45 value which further rises to a $102.17 supply mark above the moving averages confirms the bulls’ dominance in the market and also indicates a good buy for the long traders.

Thus, a strong break above the current supply at $102.17 value would intensify the buying pressure on the currency pair.

Further, AUDJPY price indicates an upward momentum on the daily signal, this indicates that the pair may continue to remain a good buy and increase to the upsides which could get to the $103.00 upper resistance trend mark soon in its long-term outlook.

AUDJPY Medium-term Trend: Bullish (4H Chart)
Upward pressure still dominates the AUDJPY pair on the medium-term outlook. The pair remains a good buy while trading strongly above the moving averages with huge volumes from the bulls. Thus, the recent market structure has favored the bulls.
AUDJPY: Price Remains a Good Buy at $102.17 Level
The sustained bullish pressure pushed the currency pair up to the $101.58 supply level during yesterday’s session and sustained it. This has made it possible for the pair to remain a good buy at its recent price level.

Earlier today, the bull run caused a rise in the price of AUDJPY to a high at the $102.17 level above the moving averages as the 4-hourly chart opens. This current trend will enable the Yen price to remain a good buy and create a strong area of interest for buyers.

Notably, the price of AUDJPY pointing upwards on the daily stochastic means that further upside is certain. It is therefore expected that the buy investors will move the price action up and may likely hit the $103.00 upper resistance level soon in its medium-term outlook.

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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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
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