AUDJPY Surges Upward Out of Triangle Formation

25 October 2021 | Updated: 25 October 2021

AUDJPY Analysis – Price Surges Upward After Tapering for Weeks

AUDJPY surges upward out of its triangle formation. The price has been narrowing within the triangle for several weeks and was bound to break outward either upward or downward. The 80.260 key level helped to trap price upward and, thereafter, price surges upward. The market, therefore, bypassed a lot of key levels as it surges upward to reach the 85.830 supply level. Just like it happened earlier in the year, on May 10th, the price was repelled. The market is also repelled and is now dropping.


AUDJPY Key Levels

Supply Levels: 85.830, 87.430, 89.020
Demand Levels: 79.140, 78.850, 80.260

AUDJPY surges upwardAUDJPY Long Term Trend: Bullish

The pattern of movement of AUDJPY since the beginning of the year can generally be described as wavy. The market is confined to the space between the 85.830 supply line and the 78.850 demand level. Price first climbed towards the 85.830 supply line on the 18th of March, but it didn’t attempt to break through as it moved in a sideways movement till the 17th of June, at which time there was an accompanying decrease in volatility as shown by the ATR (Average True Range) indicator.

Price movement eventually dipped gradually down a slope but the market was halted at 78.140 after three months of continuous plunging. The market immediately beat a retreat upward. By the means of a symmetric triangle, the price eventually surges upward directly back to 85.830. The ATR (Average True Range) indicator shows that there was a geometric increase in volatility as price surges upward. However, predictably, the market has failed at 85.830 again as the market is seen dropping.

AUDJPY surges upward AUDJPY Short Term Trend: Bullish

On the 4-hour chart, the market can be seen retracing at key levels before price surges further upward. The market is in a reversal already after price aligned perfectly with the 78.60% Fibonacci ratio drawn on the latest price trend. A bullish engulfment candle comes up immediately after, which is a sign of reversal. Furthermore, market volatility has experienced only a little drop and buyers could still break past the 85.830 resistance. Alternatively, price could fall back into consolidation, with either 84.220 or 83.110 acting as support.

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AUDJPY Retains Its Bullishness as the Price Climbs to 84.220

18 October 2021 | Updated: 18 October 2021

AUDJPY Price Analysis – October 18

AUDJPY retains its bullish instinct even as the price climbs to the 84.220 key level. The movement of AUDJPY has been rather straightforward in the past few days, and that is because price retains its bullish impulse. This is shown in consecutive strong bullish candlesticks lined up from the 7th of October. This bullish instinct has helped the market evade multiple significant levels.


AUDJPY Significant Levels

Resistance Levels: 81.500, 81.900, 84.220
Support Levels: 80.260, 78.850, 78.140

AUDJPY retains its bullishAUDJPY Long Term Trend: Bullish

The market started and completed its reversal process using a triangle formation. The pattern began as price touched down at the 78.140 price level, where the reversal effectively started. As the market tapered down the triangle pattern, the 80.260 support was the hinge level that bulls leveraged to break out upwards. Hence, from the 24th of September, price climbed to the level and cranked with the upper border of the triangle till it broke upward.

AUDJPY displayed a sudden surge in market volatility to break out of the triangle formation and also to climb to 83.110. However, the ATR (Average True Range) indicator shows that market volatility has thereafter simmered down and is already taking a dipping position. Taking this in conjunction with the display of the Stochastic Oscillator, which has climbed deeply into the overbought region, a retracement is likely on the cards.

AUDJPY retains its bullish AUDJPY Short Term Trend: Bullish

On the 4-hour chart, there is already a pullback in the market. The price is retracing its steps towards the key level of 84.220. The market is expected to retest this level to continue its upward movement as AUDJPY retains its bullishness. The Stochastic Oscillator, in accordance, is already plunging from the overbought zone to confirm this.

AUDJPY is expected to continue its bullish agenda to reach a 3-year high at 85.830.

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AUDJPY Bulls Are Driving the Market Upwards

11 October 2021 | Updated: 11 October 2021

AUDJPY Price Analysis – October 11

AUDJPY bulls are driving the market upward as they seize control of the market. Buyers seem to put themselves in a driving position by leveraging on the 80.260 price level. The 80.260 price level has been acting as a middle ground between the consolidation zone of 81.900 and 78.850. After price bounced off the 78.850 support level, the market rose but dropped back to retest the 80.260 level from where price leaped up and has now broken out of the consolidation zone.


AUDJPY Key Levels

Resistance Levels – 81.900, 83.110
Support Levels – 78.850, 80.260

AUDJPY bulls are drivingAUDJPY Long Term Trend: Bullish

The market is not seeking to correct itself after over two months of continuous plummeting. The 78.140 key level is the point at which AUDJPY began the reversal. Although the market was already showing signs of stalled downward movement when consolidation occurred between the 19th of July and the 16th of August. An increased pressure forced the price downward.

After the reversal at 78.140, buyers kept on driving the market upward. It broke past several significant levels till it reached 81.900, where it was rejected, and the price fell to a higher low at 78.850. From here, AUDJPY rallied upward again and has now broken past 81.900. In doing this, the price also broke through the EMA period 50 (Exponential Moving Average), which then acted as a support in driving the market upward.

AUDJPY bulls are driving AUDJPY Short Term Trend: Bullish

In the 4-hour time frame, the price is seen to have momentum going upward. This is seen in the EFI (Elders Force Index) chart, in which the force line has risen highly in the positive value. The market retested the 80.260 and the 81.500 price levels, which helps it break above 81.900. Also, the EMA period 20 is seen neatly lying below the 4-hour candles as support.

The aim of the bulls now will be to maintain a hold above the 81.900 significant level, which will give the buyers some respite and help in driving the market further to 83.110.

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AUDJPY Is Tapering Down Into a Triangle Formation

4 October 2021 | Updated: 4 October 2021

AUDJPY Price Analysis – October 4

AUDJPY is tapering down a triangle formation in response to the tussle for dominance from buyers and sellers. The plunge in price was halted definitely at the 78.140 support level and an uptrend began. Price retested the 80.260 key level before climbing upward. By the 81.900 key level, the market was rejected and started falling again. A higher low was attained before AUDJPY resumed its uptrend movement. Currently, price is reacting around the 80.260 key level.


AUDJPY Critical Levels

Resistance Zones: 81.500, 81.900, 83.110
Support Zones: 80.260, 78.850, 78.140

AUDJPY is taperingAUDJPY Long Term Trend: Bullish

The current tapering movement of the market is a result of the reaction of buyers to end bearish dominance in the market. Price began a downtrend on the 10th of May 2021 when the market fell short at 85.830. Subsequently, price started bouncing back in a downtrend with consistent lower lows. Buyers started putting up an opposition when price dropped to 80.260. This led to consolidation with the 81.500 resistance.

Sellers would still force the market downward, but that spelled the beginning of the tapering movement of the market as the plunge was halted abruptly and reverse at 78.140. This led to a tapering movement characterized by lower highs and higher lows. The RSI (Relative Strength Index) has its signal line climbing to the buying half of the chart. Price might contemplate breaking the upside of the triangle at this point. The Parabolic SAR (Stop and Reverse) confirms the strong current uptrend.

AUDJPY is tapering AUDJPY Short Term Trend: Bullish

The 80.260 support has stood strong to keep the market afloat. Price has retested the level twice and is now rising. The Parabolic SAR now shows 3 dots below the 4-hour candles to confirm the current market bullishness. The RSI signal line is above the mid-line at 54 and remains upward abounding.

Bulls will fancy breaking out upward from this point. If this happens, price is predicted to rise to bypass 81.900 and reach 83.110.

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AUDJPY Is Rising in Consolidation

28 September 2021 | Updated: 28 September 2021

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.

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AUDJPY Bears Are Taking Another Round at Plunging the Market

20 September 2021 | Updated: 20 September 2021

AUDJPY Price Analysis – September 20

AUDJPY Bears Are trying to drown the market again after an initial failure at 78.300. Price broke downward out of distribution to reach for the 78.300 support, but unlike previous times where the market bounced up to break through the support, price kept moving up till it got to the 80.260 key level. Price moved to retest this level before pushing above it, thereby breaking the hold of the bears over the market. AUDJPY would go on to climb to 81.450, but the bulls weakened, and price slump down.


AUDJPY Key Levels

Resistance Levels: 80.260, 81.450
Support Levels: 79.300, 77.190

AUDJPY BearsAUDJPY Long Term Trend: Bearish

Price began a downtrend after forcing its way below the 84.220 key level. On its way down, the market adopted an undulating method of falling in which it bounces off support before drilling through it forcefully. This continued until price fell into distribution between 81.450 and 80.260, in which price had to bounce twice on 80.260 before plummeting down to 78.300, where price suffered rejection and was redirected.

AUDJPY beat a retreat from the 78.300 support to climb above 81.450, but renewed bearish pressure caused it to begin another downtrend as bears are determined to continue plunging the price. The EMA period 20 (Exponential Moving Average) has returned above the daily candles to show that bears are pushing to continue their bearish action. The EFI (Elders Force Index) temporarily moved positively but has now plummeted to a negative value to show bearish dominance.

AUDJPY Bears AUDJPY Short Term Trend: Bearish

On the 4-hour chart, price is falling gently, but at intervals, the market tries to rally back up but bears often overpower the market. This happened on the 10th and 17th of September where AUDJPY temporarily rose above the EMA period 20. Those two instances cause the EFI power line to bump into a positive value before dropping below the zero level again.

Generally, AUDJPY remains a bearish market and we expect to see the price fall to 78.300 before further reactions.

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AUDJPY Faces the 80.760 Support Level in Its Downtrend

14 September 2021 | Updated: 14 September 2021

AUDJPY Price Analysis – September 13

AUDJPY faces the 80.760 key level as it slips downward. The market began an uptrend after price beat a retreat at the 78.200 support level. The market kept climbing upward till it reached 82.090, at which point the market was knocked down. On its way downward, however, AUDJPY now faces the 80.760 key level which is preventing it from falling further.


AUDJPY Important Zones

Resistance Zones: 81.500, 82.090, 82.900
Support Zones: 78.200, 79.460, 80.760

AUDJPY faces AUDJPY Long Term Trend: Bearish

The AUDJPY market for the past 3 months can generally be described as bearish. This is because, since the 16th of June 2021, price has been falling. Bears faced a confrontation in the fall, majorly at 82.900 and then at 80.760. However, when the market fell to 79.200 on the 19th of August, the downtrend was reversed and price began a fresh uptrend. The market grew 5.27% to reach 82.090, where AUDJPY met brutal resistance and started plunging again.

AUDJPY now faces the 80.760 key level again. The last time the price fell to this level, it took about 20 days to recover. The MA period 10 (Moving Average) has shifted to the top of the latest daily candle to push it further down. The Moving Average Convergence Divergence (MACD) is showing decreasing bullish histogram bars and its lines are converging towards the zero level. These emphasize the weight of bearish pressure in the market. But the 80.760 level will fancy its chances of keeping price up.

AUDJPY faces AUDJPY Short Term Trend: Ranging

AUDJPY 4-hour timeframe reveals that price has begun a ranging pattern below the 81.500 key level as 80.760 has been defending price. The MA period 10 remains above the 4-hours candlesticks, which is a sign of continuous market depression. The MACD Histogram has been all bearish since the 6th of September. Moreso, its lines are about to cross beneath the zero level. This shows that there is a tendency for the market to break lower from the 80.760 key level. When this happens, the price will fall to 80.100.

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AUD/JPY retesting historic key level

8 September 2021 | Updated: 8 September 2021

Key Resistance: 82.00
Key Support: 80.50 – 79.50 78.00

The AUD/JPY has been in a big rally (up 5.32% from August lows) but the overall structure in this market is very much bearish. If we look at the highs printed on May 10th to the lows printed on August 21st the AUD has declined -9.26% against the Yen.

The rally from the past couple of weeks is a 50% pullback from the entire bearish move. More so, it’s also a 61.8% pullback from July highs-to-August lows AND a 113% pullback of the entire August range. We have a Fibonacci cluster here.

We can also see price retesting the 82.00 level, which has been historically strong and this is the first retest of this level since it was broken back in July 15th.

My short position here follows the rationale of JPY strength AND USD strength. The USD rallying at the moment is bearish for the AUD and the JPY bouncing from key support is also bearish for the AUDJPY.

Double whammy.

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AUDJPY finally breaks out after initial capitulation

6 September 2021 | Updated: 6 September 2021

AUDJPY Price Analysis – September 6

AUDJPY finally breaks out from a descending trend after its initial failure to push out. Price has been on the decline for a total of 11 weeks before it finally breaks through. There was an initial cause for optimism on the 5th of August 2021, when the market edged out of the descending channel utilizing the 80.760 key level. Price held on for 5 days, but resistance from 81.500 weakened buyers to lead to a precipitous fall in the market, in which price slumped to 78.200.

AUDJPY Key Levels
Resistance Levels: 81.500, 82.090, 82.900
Support Levels: 78.200, 79.800, 80.760

AUDJPY finally breaks out

AUDJPY Long Term Trend: Bullish

The plunge in the market from 81.500 to 78.200 was a 3.98% drop in price. This emphasized the dominance of bears in the market at that time. However, buyers employed a morning star candlestick pattern to turn the market in their favor. This helped the Bulls retaliate with a massive 5.39% price increase to reach the 82.090 price level, thereby shrugging off the bears and breaking out of the decline that has plagued the market for weeks.

There is now a pullback in price to the 81.500 support. The retracement at this level is a signal for more bullish actions, as done previously at the 79.800 key level and on the MA period 20 (Moving Average) line. In the Stochastic Oscillator, the signal lines have risen to the overbought region. A cross of the signal lines reflects the current market retracement, but bulls need to be alert to prevent bears from taking over the market.

AUDJPY finally breaks out AUDJPY Short Term Trend: Bullish

On the 4-hour chart, the MA period 20 is seen acting as a support and upholding upward market movement. The retracement of the market is still above the MA line and it is expected to bounce off it to go higher. The Stochastic Oscillator, however, has its signal line break to the downside of the overbought region border after much downward tugging.

The market now hangs in the balance and price could move either way. There is, however, more optimism that the MA period 20 will keep price up and help it pass 82.090 to get to 82.900.

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AUDJPY Will Bounce off Key Zones Before Bearish Movement Continues

31 August 2021 | Updated: 31 August 2021

AUDJPY Market Analysis – August 30

AUDJPY will bounce off some key levels in a bid to keep moving downwards. For some time now, price has been on a descent. Price has been sliding downwards and bypassing the key levels. After a retest activity at the 81.600 key level, AUDJPY continued moving downward. AUDJPY dived below the trend-line and a major demand level at 80.200 before slipping past another significant key region at 79.000. Bullish pressure, which is causing a change in the market, has risen considerably. AUDJPY is creating a new lower high before price continues its slump.


AUDJPY Important Levels

Supply Levels: 81.600, 80.200
Demand Levels: 79.000, 77.900

AUDJPY will

AUDJPY Long Term Trend: Bearish

AUDJPY continues to fall due to violating the 80.200 demand level. Price should make a steady retracement before bearing on its bearish agenda. This retracement will be caused by upward pressure, and bulls will endeavor to rise somewhat before AUDJPY continues diving.

AUDJPY keeps climbing up, with the price aiming to break over 80.200 before retreating. Price initially offers a potential buy on the daily time frame when it changes direction at the 77.900 demand zone. However, this was caused by AUDJPY breaking out of the Bollinger Band. Price is now poised to overcome the middle band and rise to retest the upper band before price continues dipping.

AUDJPY will AUDJPY Short Term Trends: Bearish

AUDJPY is predicted to climb beyond 80.200, retesting significant zones in the 4-hour time frame before bearing on its bearish movement. Before retracement, the market may break over the trend line and react at 81.600. The Bollinger Band indicator displays market responses at the upper band. This suggests a bearish reversal when the market pulls back to that zone. The MACD (Moving Average Convergence and Divergence) is displaying bullish histogram bars suggesting upward movement and crosses showing losses in bullish impetus. This, however, plainly indicates that sellers will soon dominate the market.

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