AUDJPY Market Pulls Down With Vigor in a Bearish Market

AUDJPY Price Analysis – December 5

AUDJPY market pulls down with vigor in a bearish market to the 78.100 level of significance. Price prepares to fall with a grouch in market action as the bears continue to dominate the market. The sellers’ ascendancy is expected to remain for the time being since they have the most sway over price control. The bears, on the other hand, are ready to push the price below the 78.100 mark and may even trend lower before the bulls take over.

AUDJPY Significant Levels:

Resistance Levels: 86.100, 83.200
Support Levels: 80.000, 78.100

AUDJPY Long Term Trend: Bearish

AUDJPY market was assumed to be in a bearish range because it follows a downward trend. The price seems to trend lower as it rallies downward. The market appears to have cracked through various price levels before eventually creating a new zone at the 78.100 level of significance. The price has settled at this level after the sellers succeeded in creating a solid low. The other prospects in the market include the buyers’ ride through the market to amass it upward. The bullish movement, however, failed and the bears overtook them by bringing the price down below the 80.00 significant level.

When the buyer’s strength was on the increase, the price was eventually pulled up with strong force to old highs. The bulls halted their flows around the 86.100 significant level, after which the bears eventually restrained them. The market for AUDJPY is, therefore, observed to be running down with full energy and the price is ready to break through the 78.100 level of significance before the bulls eventually take over. The Moving Average crossing on the 1-day chart shows price influence trading downward as the market continues to follow a bearish moment.

AUDJPY Short Term Trend: Bullish

The 4-hour chart provides us with the structure of the market movement. The price movement trending downward shows the authority of the bears in action. However, we, therefore, expect a pullback to a significant level of 80,000 before bearish continuation. The Parabolic SAR (Stop and Reverse) also shows the general trend of the market in the bearish race, and the price is expected to go lower beyond the 78.100 significant level.

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