AUDJPY Price May Break Up $75 and Targets $77 Level Author: Azeez Mustapha Last Updated: 28 June 2019 AUDJPY Price Analysis – June 28 In case the Bulls were able to penetrate the $75 level with the formation of a bullish candle and the candle close above the level, then, AUDJPY price may reach the high of $77. Should the $75 level holds, the price will decrease to the previous low of $73 level. AUD/JPY Market Key levels: Supply levels: $75, $77, $79 Demand levels: $73, $70. $$66 AUDJPY Long-term trend: Bearish AUDJPY is bearish on the long-term outlook. The bearish condition continues as long as the price remains under the 50 periods EMA. The currency pair bottomed at $73 demand level on June 20. Bears lose their momentum and the AUDJPY price reverse with the formation of more bullish candles that pushed up the price towards $75 supply level The AUDJPY price has broken up the 21 periods EMA and trying to penetrate 50 periods EMA in case the $75 level does not hold. AUDJPY Daily chart, June 28 The bearish pressure is weak and the Bulls are gaining more pressure to break up the $75 price level. The stochastic Oscillator period 14 is above 50 levels and the signal lines pointing upside to indicate a buy signal. In case the Bulls were able to penetrate the $75 level with the formation of a bullish candle and the candle closes above the level, then, AUDJPY price may reach the high of $77. Should the $75 level holds, the price will decrease to the previous low of $73 level. AUDJPY medium-term Trend: Bullish AUDJPY is bullish on the medium-term outlook. On the 4-hour chart, the Bulls have taken over the market. The dynamic support and resistance have been broken up and the price has moved up to touch the $75 price level where the price is currently consolidating. AUDJPY 4-hour charts, June 28 The price is trading above the 21 periods EMA and 50 periods EMAs which indicates buy signal. Please note: insidebitcoins.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
