AUDJPY remains in a bearish market area.
Vendors dominate the market.
AUDJPY Weekly Price Analysis: August 15th
If the bear increases its momentum, the support level of $ 80,013 can be broken down.
Resistance levels: $ 85,325, $ 85,330 $ 85,335
Levels of attendance: $ 80,050, $ 80,045, $ 80,040
AUDJPY Long term trend: bearish
Sustained bearish pressure pushed the pair to $ 80,949 in the support zone during yesterday’s session.
The downward journey continues as the daily chart opens today with a bearish candle at $ 80,993 in the support zone.
The price of AUDJPY initially dropped to $ 80,741 in the support area below the two EMAs at the time of writing, an indication of a downward trend in the context of market strength.
The stochastic oscillating signal that points down around the 64% level in the overbought region suggests that the yen is at a downward momentum in its long-term outlook.
AUDJPY Medium term trend: bearishAUDJPY is on a downward trend in its medium-term outlook. Bears of $ 81,224 in the support area, after touching the EMA -50, pushed the price up to $ 80,979 in the support area during yesterday’s session.
The momentum was lost due to the bull’s brief return. Traders took over and moved the price up to $ 81,067 in the resistance zone before the session closed yesterday.
Today’s 4-hour chart opens with a doji bullish candle at $ 81,027 in the resistance zone, an indication of a trend reversal.
The price of AUDJPY rises to $ 81,043 in the resistance zone. Sellers came in and lowered the price of the yen to $ 80,871 in the support zone.
The price of AUDJPY continues to fall south to $ 80,741 in the support zone below the two EMAs, indicating that the pair’s price momentum is on a downward trend.
The stochastic oscillating signal that points around the 11% level in the oversold region implies that the price of the AUDJPY is likely to stay in the same direction in the next few days in the medium term. Therefore, the relief of the buyer.
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