AUDJPY Buyers Are Ready for More Bullish Hikes

Updated:

AUDJPY Analysis – 15th August

AUDJPY buyers are ready for a more bullish hike above the 95.750 key zone. The market is presently held down by the buy traders, so more buying activity is therefore expected to play out. The recent price action on the AUDJPY has confirmed further bullish movement. The buy traders have been seen for the past few days to be building price momentum back to the 95.750 key zone. What should traders then expect from the AUDJPY? The price is targeted to hit the price trend line and also smash through the 95.750 key zone.

AUDJPY Trade Levels

Resistance Levels: 92.910, 95.750
Support Levels: 87.490, 80.730

AUDJPY Buyers Are Ready For More Bullish Hikes

Buying power came into play after the sellers pointed out market rejection above the lower trend zone. Last week, with the opportunity for sellers’ rejection, last ket rejection above the lower trend zone. Last week, with the opportunity for sellers’ rejection, the AUDJPY opened the door for more buying tendencies. The bullish power is projected to break through the upper trend zone. In addition, due to price acceleration, we should expect a ride forward to the 95.750 key level.

In June, the motion of the price volume trend was seen on display across prices. The trend signal was on the increase until the AUDJPY market entered a descending trend zone. This, however, resulted in a price decrease. The Parabolic SAR (Stop and Reverse indicator) also gives price details of activity inside the trend channel. If buyers eventually break out of the trend zone away from the Bollinger Band, it would become an indication of a bullish continuation on the daily chart.

AUDJPY Buyers Are Ready For More Bullish Hikes

Market Expectation

The buying pressure is already zoomed out upward to the 95.750 key zone as the price volume indicator is also increasing on the 4hr chart. The Bollinger indicator has already formed a small squeeze as buy liquidity is seen in the AUDJPY price. The buyers are already heading towards the 95.750 key zone due to price acceleration.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.