AUDJPY Buyers Have More Prospects to Influence AUDJPY Pair

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AUDJPY Price Analysis: July 17

AUDJPY buyers have more prospects to swing price to 96.740 key level. However, this is due to buyers’ ability to currently influence the overall price tendency. After several bearish scenes, the buy traders have staged up the market action to project back to the 96.740 key zone. The daily chart shows a change in price momentum as the currency pair is set on a ride upward. 

AUDJPY Important Levels

Resistance Levels: 96.740, 91.220
Support Levels: 87.340, 78.230

AUDJPY Long-Term Trend: Bullish 

AUDJPY bullish market had a seizure following the bullish ride from the 78.230 key zone up to breaking through the 96.740 key level. The price value fell to the price key level of 87.340 after the advent of selling influence, which caused the price value to deflate. Still, the buyers were able to move forward, pushing the price back up to 96.740, but they couldn’t break through the barrier.

Another wild ride is taking place on the daily chart right now, and this time it’s the buyers who are trying to set price strength so they can make a comeback at the 96.740 crucial zone. If there is sufficient strength, the price should be able to break through this resistance zone and move into the key zone. Above this level, there will be an increase in the number of possible purchases. The Moving Average Convergence and Divergence (MACD) indicator shows that the market strength is now in a state of balance. Nevertheless, a hit is anticipated to break through the 96.740 key zone with increased bullish vigour.

AUDJPY Short Term Trend: Bullish 

The buyers are now gathering momentum following the breakout from the trend line. A retest has been shown as bullish expansion is set to continue.

The MACD is already rising, therefore giving motion to buyers as their strength begins to increase. The momentum indicator also got stronger as the price tries to get back to the 96.740 key zone.

 

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