AUDJPY Prepares Bullish Flight Back to Old Level

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AUDJPY Price Analysis – January 10

AUDJPY prepares for a bullish flight back to the 85.900 level of significance. The bullish getaway will, however, come into play when they give more pressure on the positions in the price influence. When they give more engagement, the price will pull through to follow the bullish light. The bulls are suddenly alert to cause a significant movement following the bears’ interception around the 82.680 market level. This manipulation may cause the sellers to win if the bulls are not eager to position themselves for price movement.

AUDJPY Important Zones:

Resistance Zones: 85.900, 82.680
Support Zones: 80.250, 78.960

AUDJPY Long Term Trend: Bullish

Bearish enthusiasm was the first to envelop the market. This happened due to a drawdown from 85.900 significance of influence. The price then rolled lower with the Bollinger band following suit to the 78.960 significant level. The bulls and the bears, therefore, contested price movement before the bulls finally took over and moved the price back to 85.900 price influence. The movement between the two prospects continued sideways.

Taking a glimpse at the daily chart clearly, the Bollinger band indicator displays how price reacted near the 80.250 significant level before the bulls caused a heavy flight upward. The bulls, however, broke through the 82.680 level before having an encounter with the bulls. Furthermore, near the 82.680 level, the candlestick chooses to retest the middle band of the Bollinger indicator as the price is set to push it upward.

AUDJPY Short Term Trend: Bullish

On the 4-hour chart, the AUDJPY market’s eagerness is quite evident. They are ready to drive price movement forward in a bullish formation. The bulls hold more price influence than the bears. After a retest at the 82.680 level caused by the bears, the bulls are prepared to cause a significant flight upward following the momentum increase. The Stochastic Oscillator indicator also indicates price direction, following the market up to the bulls region as it prepares to drive to the 85.900 significant level.

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