AUDJPY Selling Impact Set To Trade Price Lower

Updated:

AUDJPY Analysis – July 4

AUDJPY selling impact is set to trade price activity lower to 90.700 key level. The traders are determined to dislodge the market’s movement due to bearish strength gaining more impulse. There had been some indications of price uncertainty recently before the sellers eventually took action. The sellers are causing a massive flow as the AUDJPY value is now set to rally down to the 90.700 key level.


AUDJPY Price Levels

Resistance Levels: 97.100, 90.700
Support Levels: 87.100, 78.800

AUDJPY Selling Impact Set to Trade Price LowerAUDJPY Long-Term Trend: Bearish

The major traders controlling the market impact are the sellers. However, before their penetration, there had been the presence of a buying force for a long time. The bullish strength emerged following the price swing from the 78.800 key level. What followed was a massive breakout above the 87.100 key zone. However, the Moving Average indicator began to expand as the buyers continued to buy more orders.

However, the bullish buying tendency ended when the value peaked at 97.100 significant zone. A selling tendency is now ongoing after the Moving Average indicator has already given a golden cross on the daily chart. Traders should anticipate a selling opportunity to end after several massive movements and a retest of the 90.700 critical zone and possibly beyond.

AUDJPY Selling Impact Set to Trade Price Lower
AUDJPY Short Term Trend: Bearish

Following the bullish hold at the 97.100 key level, there have been several selling moments on AUDJPY. The 4hour chart, however, shows an overall selling tendency with the Moving Average crossing as a signal for more displacement. The Relative Volume Index shows buyers pulling price strength as AUDJPY sellers are already disposed to ride down to the 90.700 critical zone.

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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.