AUDJPY Buyers Continue Bullish Streak

Market Analysis- March 22

AUDJPY buyers continue the bullish streak. The buyers have been displaying remarkable strength, propelling the price towards a significant level of 99.800.

The AUDJPY pair started the year in a sideways market, lacking a clear trend. However, in February, the bulls seized a solid opportunity and broke through the significant zone at 98.160. Since then, the buyers have been in control, pushing the price higher.

AUDJPY Price Levels

Resistance Levels: 99.800, 98.160
Support Levels: 95.500, 97.000

AUDJPY Long-Term Trend: Bullish

In recent months, the sellers attempted to create a setback by bringing the price down to a significant level of 97.0000. However, the bullish momentum prevailed, and the price is now heading towards the 99.800 significant level.

The current market conditions suggest that the buyers are likely to continue dominating the AUDJPY pair. The efforts displayed by the buyers have been rigorous, indicating their determination to push the price higher. If the bullish momentum increases, it is plausible to see the price trading up to the psychological level of 100.000. However, it is important to note that the price is currently trading at a significant level of 99.800. From the MACD indicator, it is evident that the bullish trend in AUDJPY is likely to grow stronger. This indicates that the buyers have the upper hand and are expected to continue pushing the price higher.

AUDJPY Short-Term Trend: Bullish

As the trend strengthens, it opens up the possibility of key levels being breached throughout the year. Traders should keep a close eye on these levels as they prepare for potential new highs.
The price is currently heading towards a significant level of 99.800, and if the bullish momentum continues, we may see it trading at the psychological level of 100.000.

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