AUD/JPY Is Stuck below Level 85.50, Uptrend Is Unlikely

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RESULTS

Key Resistance Levels: 78.00, 80.00, 82.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Ranging
AUD/JPY currency pair is in a sideways trend. The pair is currently fluctuating in a tight range between levels 84.00 and 85.50. The current range-bound move is characterized by small bodies of candlesticks called Doji Spinning tops. These candlesticks are indicating that buyers and sellers are unaware of the direction of the market.

Daily Chart Indicators Reading:
The pair has fallen to level 55 of the Relative Strength Index period 14. It indicates that the pair is in the uptrend zone and above centerline 50. The 21-day SMA and the 50-day SMA are sloping upward indicating an uptrend.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the currency pair is in a sideways move below level $85.50. The pair is now fluctuating between levels 84.40 and 85.00. The currency pair has been fluctuating between levels $84 and $85.50. The price is fluctuating below and above the moving averages. The pair will rise when price is above the moving averages.

4-hour Chart Indicators Reading
The market is above the 75% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The SMAs are sloping horizontally indicating the sideways trend.

General Outlook for AUD/JPY
AUD/JPY pair is in a sideways trend. The pair is rising toward level 85.50. A break above the resistance level will mean the resumption of an uptrend. If the upward move is resisted, it indicates that the pair will continue to be range-bound for a few more days.

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