Thu. Jan 27th, 2022

The AUDJPY pair is now trading in the lower support area.
Responsible selling can be considered in key areas.

AUDJPY Weekly Price Analysis: August 22nd
The downtrend may continue as long as the support level of $ 78,244 is maintained.

AUDJPY Market
Key levels:

Resistance levels: $ 85,270, $ 85,280 $ 85,290
Attendance levels: $ 78,250, $ 78,240, $ 78,230

AUDJPY Long term trend: bearish

AUDJPY still remains in a bearish area in its long-term outlook. After re-testing the support level of $ 79,827 by the bears on August 18 in the support zone and also breaking the support line, the currency pair maintained a strong support zone.

The Bears made a progressive move south with a tap on the support line and stayed below it at $ 78,244 in the support area as the low reached by the pair on August 19th.

A $ 78,353 doji bullish candle opens today’s daily chart in the resistance zone, an indication of a trend reversal.

The price of AUDJPY rises to $ 78,632 in the resistance zone below the EMAs, suggesting that sellers control the market.

Therefore, the stochastic signal that points around the 8% level in the oversold zone suggests that the price boost of the AUDJPY is likely to experience a change in trend in the coming long-term days.

AUDJPY Medium term trend: bearishIn terms of the medium-term outlook, the momentum shows a downward trend. Sustained bearish pressure pushed the pair to $ 78,353 in the support zone during yesterday’s session.

The downward journey continues as the 4-hour chart opens today at $ 78,579 in the support zone.

Vendors ’activities also lower the price to $ 77,895 in the support area.

Bulls record a return and raise the price of AUDJPY to $ 78,534 in the resistance zone.

The bears took over and lowered the price of the yen to $ 78,312 below the two EMAs in the support zone; this implies that the price boost of AUDJPY is in a downward trend.

The stochastic signal that points around the 20% level in the oversold region, suggests that it is likely that the pair may experience a trend reversal in the next few days in the medium term.

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