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AUDJPY Price Continue Consolidating at $75 Level, Awaiting a Breakout

AUDJPY Price Analysis – July 13

The breakdown of the $75 price level will return the price to the previous low of $73. In case the Bulls were able to push up the price above 50 periods EMA, $77 price level may be AUDJPY price target.

 

AUD/JPY Market

Key levels:

Supply levels: $75, $77, $79
Demand levels: $73, $70. $$66

 

AUDJPY Long-term trend: Ranging

On the long-term outlook, AUDJPY is ranging. AUDJPY price remains at the same level it was two weeks ago, that is $75 price level. The Bears and the Bulls momentum are at equilibrium. The price consolidated on the same level. On July 09, the Bearish candle formed that partially broke out to the south. The 21 periods EMA prevented further reduction in price.

AUDJPY Daily chart, July 13

EURJPY remains trading in between the 21 periods EMA and 50 periods EMA at $75 level. The Bulls and the Bears could not push the pair up towards $77 level and push the pair down to the $75 respectively. The stochastic Oscillator period 14 is at 75 levels with the signal lines showing no specific direction indicates that consolidation is ongoing in the AUDJPY market. The breakdown of the $75 price level will return the price to the previous low of $73. In case the Bulls were able to push up the price above 50 periods EMA, $77 price level may be AUDJPY price target.

AUDJPY medium-term Trend: Ranging

AUDJPY is ranging on the medium-term outlook. It is clearly seen on the 4- hour chart that the pair is moving sideways at $75 level. Neither the Bulls nor the Bears are in control of the AUDJPY market.

 

AUDJPY 4-hour chart, July13

The price is trading directly on the 21 periods EMA and 50 periods EMA. The stochastic Oscillator period 14 is at 75 levels with the signal lines bending down which indicates sell signal.

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.