AUDJPY Continues to Raise Bullish Bar Upward

AUDJPY Analysis – Price Continues to Raise Bullish Bar Upward to 83.210 Market Zone

AUDJPY Continues to raise the bullish bar upward towards the 83.210 market zone following a bearish outpouring. The bulls in the market with positive strength are willing and ready to cause price movement to reach beyond the 83.210 level of significance in the market phase. Despite the bulls’ trying to make their difference in the market, the bears are also trying to lock them out with their strength, preventing them from moving with strong motion. However, despite this, the bulls are still prepared to raise prices beyond the 83.210 level of market influence.

AUDJPY Significant Levels:

Resistance Levels: 86.110, 83.210
Support Levels: 80.00, 78.110

AUDJPY Long Term Trend: Bullish

The bears in the market structure were the first to attain a significant low, and the price was seen to have broken through several important levels in the bearish movement. AUDJPY, therefore, experienced a strong rallying downward with a fast motion in price movement. Following this significant event, the bulls provided the market with a new direction, as the price began to raise its bar upward with strong acceleration back to the 86.110 price level. As a result of this movement, several strongholds were broken and the momentum in price also seemed to increase before the bears eventually took over again.

The sellers this time caused the market to flow back into the bearish realm as the price began to rally downward. The bears in the AUDJPY successfully brought the price down, and the bulls also took over before the price movement got to the 78.110 level of significance. The market orientation phase changed as the bulls decided to continue to raise the bar upward. The Relative Volume index indicator shows price around the middle level. This is because the bears are interfering with the direction of the bulls simply because they are prepared to cause a strong influence on the movement.

AUDJPY Short Term Trend: Bullish

The 4-hour chart is viewed as rallying downward in a bearish trend before the bulls take over. The price level of 80.00 was broken and the market is first assumed to retest this level before the price eventually increases its momentum in the bullish phase. The MACD (Moving Average Convergence and Divergence) indicator views price movement signals above the 0.00 level as the bulls seek to raise their bar upward beyond the 83.210 price level.

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