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AUDJPY buyers keep striving to return to the 84.300 critical zone. Buyers want to dominate the market, in so doing, pushing the demand back to the 84.300 market zone. However, sellers’ stimulation is causing an impediment to the upward movement in the market. Nevertheless, buyers anticipate a forward moment that will take the currency pair back to 84.300.
Downward movement in the market commenced due to price aggregation near 84.300. The sellers’ manoeuvre demands downward, violating several different zones in the market. Buyers took over the flow of demand movement to in an upward direction. The market advances forward after several retests near the 78.770 zone before it eventually got to 86.050.
Sellers began influencing the price as the market order cycle continued, with prices rallying back to 78.770, following the same circle of effect. AUDJPY continued in a sideways market as buyers now strive for prominence in the market. As bullish momentum increases, price is expected to rise back to 84.300. The momentum indicator is progressing as the signal keeps increasing.
AUDJPY Short Term Trend: Bullish
The 4 hour chart time frame displays price evolution from downward movement to the bullish order. The bullish cycle is now advancing in the market influence. The bulls now strive to push the market upward. The Moving Average crossing indicator keeps aligning with the bullish order as it reaches back to the 84.300 critical level.
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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.
