AUDJPY Price Changes Focus as Buying Strength Increases

AUDJPY Analysis – Buyers Are Ready to Push Further Above the 92.180 Key Zone

AUDJPY price changes focus as buying strength increases. There has been a major decline in the selling frequency of the AUDJPY pair. Many traders had hoped for more selling impact on the currency pair but are currently holding back. A breakout for more selling activity has been previously projected below the 92.180-key zone. However, buyers have been causing a holdback in selling distribution. This implies that the buyers still want the market in consolidation despite the selling pressure that has been felt since the beginning of last month.

AUDJPY Key Levels

Resistance Levels: 96.760, 92.180

Support Levels: 87.990, 83.290

The bulls have held on to the mantle for quite a while. Technical analysis shows that buyers have liquidated to cause more price flow in the market than the sellers. Buying activity was seen following a bullish rise beyond the 83.290 key zone. The bulls suspended all other major trading action until a rise to the 96.760 key zone. As the price began to fall back to the 87.990 key level, so did the selling pressure.

AUDJPY Long Term Trend: Bullish 

After much selling contribution, the price began to consolidate. The buy traders were able to make their escape beyond the consolidation trend but failed after breaking out of the 96.760 key zone. From there, sellers sustained prices lower as many traders thought they were willing to go beyond the 92.180 key zone. Buyers are currently holding the price back for the consolidation to continue. The Stochastic Oscillator is set to cross beyond the 40.00 level as buyers are pushing prices back into consolidation 

AUDJPY Short Term Trend: Bullish

The buyers are taking charge in the market as more room for buying tendencies is still felt. The Parabolic SAR ( Stop and Reverse ) indicator shows price activity with a buying tendency across the 4-hour chart. The buyers are anticipating pushing the price back into the consolidation zone.

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