AUDJPY Is Rising in Consolidation


AUDJPY Price Analysis – September 27

AUDJPY is rising in consolidation after striking the support at 78.850. The upper boundary of the consolidation zone lies at the 81.900 key level. The intent of the market at the moment is to forcefully break out of consolidation while still in its early stages. But it is expected that sellers will counter the market in an opposite direction to continue the tussle for power. It is therefore expected that AUDJPY will continue sideways.

AUDJPY Critical Levels

Resistance Levels: 81.900, 83.110, 84.220
Support Levels: 80.260, 78.850, 77.190

AUDJPY is rising in consolidationAUDJPY Long Term Trend: Ranging

The market has remained in a general downtrend since the price slipped down on the 17th of June 2021. This was characterized by consistent lower highs and lower lows. This continues till the daily candles rest on the 80.260 key level. At which point the market wanted to begin rising, but the bearish pressure locked the price below 81.500. After three weeks of a minimal price fluctuation, AUDJPY eventually dropped lower.

Price dropped hard till it hit the downtrend line at 78.140. Instead of previous times where the market retraced to make a lower high and then fall, the price kept rising till it reached 81.900, thereby breaking the bearish hold on the market. However, sellers remained in the market and ensured that the price fell again, but bulls have become more confident and have redirected the market. This has resulted in the current price consolidation.

AUDJPY is rising in consolidation AUDJPY Short Term Trend: Bullish

The market is currently trading at around 80.933 and is very bullish. The MACD (Moving Average Convergence Divergence) indicator demonstrates the bullishness of the market. Having crossed upward above the zero level, the MACD lines have kept rising and have climbed high above the zero level. Price has traded to the upside of the Moving Average period 50 in the process.

AUDJPY is expected to keep rising till it reaches the 81.900 key level.

You can purchase crypto coins here: Buy coins

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

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.