AUDJPY Bears Are Determined to Push the Market Downward

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AUDJPY Analysis: Bears Are Determined to Influence the Market Down to a Significant Zone of 80.550

AUDJPY bears are determined to influence the market down to a significant 80.550 zone. The market tendency looks forward to resuming its bearish trend as more positions are included by the sellers to move the price in their direction. The sellers are keen, however, to influence the price as their momentum in the action of the price increases. The buyers in the market influence are also playing their part in the market consequence as the price witnesses a pullback as a result of the bulls’ intervention.

AUDJPY Significant Zones:

Resistance Zones: 86.200, 84.210
Support Zones: 80.550, 78.190

AUDJPY Long Term Trend: Bearish

The bears first pull through the market effect. The sell moment begins after a quick accumulation, and the price is seen to drop back into the price level. The bearish signal pushed the market direction down to so many significant levels in price action until the price plunged to the 78.190 significant level. As the bulls gain strength, the sellers have renounced their influence in any way.

The buyers begin to push the price activity forward as a consequence of their gathering enough momentum in the market. The buyers’ strength continues as the price soars high to the 86.200 key level after a retest at the lower level of the Bollinger Band indicator. However, from that key level, the bears also set their game right as they plunged the price back to its old level. From here, the two prospects are seen to engage in price movement. Currently, the bulls have taken price from the 80.550 level but have failed to push it above the middle level of the Bollinger Band. This, however, still implies that the market will continue to progress in a bullish trend.

AUDJPY Short Term Trend: Bearish

On the 4-hour chart, the market first shows bull force as the price rose to the 84.210 level of significance. However, from this zone, the bears have been swinging the price level downward as the bears and the bulls keep pushing the price downward in the Bollinger Band. The bulls are opposing price movement as the market continues its bearish moment. The price is therefore anticipated to ride back to the 80.550 level as the Parabolic SAR (Stop and Reverse) shows dots falling in the market.

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