AUD/JPY Daily Forecast: Bullish Momentum Ahead
Recently, the AUD/JPY price dropped to the support level of 99.60 before quickly rebounding. According to today’s daily candle, the AUD/JPY has started an upward journey from 99.60 and is currently trading at 100.61. On the four-hour chart, the 50 EMA (Exponential Moving Average) is positioned below the current price, providing strong support.
Key Levels:
Short-Term Resistance: 101.30
Short-Term Support: 99.60
We anticipate that the AUD/JPY price will maintain its uptrend, aiming to touch the target of 101.30. The subsequent upward target is 102.50. It’s worth noting that the price could experience a pullback to around 100.20 before reversing upward and reaching these targets.
On the other hand, if the price falls below 99.50 and stabilizes there, the next bearish target could be 98.30.
Overall, we are optimistic about the AUD/JPY price moving bullishly in the current context.
