AUD/JPY Forecast: Bullish Short-Term Outlook
The AUD/JPY has recently seen some action, rising to the 100.70 level but then pulling back to 99.70. After this dip, the price bounced back up and is currently hovering around 100.50, showing some indecision. For more AUD/JPY Market Outlooks and forecasts Click here
Technical Analysis
On the 4-hour chart, we can see that the 50 EMA is above the 200 EMA, which typically signals a bullish trend. The price has been respecting the 50 EMA, indicating stability above it.
Key Levels
- Resistance Levels: 101.50 and 102.80
- Support Levels: 99.70 and 99.00
AUD/JPY Market Outlook
We expect the AUD/JPY to maintain its short-term bullish momentum. If the price breaks above the 100.70 level, it could quickly rise toward 101.50. Should it hold steady at that level, the next target would be 102.80.
However, if the price falls below 99.70, it may decline further to 99.10 before potentially reversing and continuing its upward trend.
Conclusion
In summary, our short-term outlook for AUD/JPY remains bullish, with a focus on breaking past key resistance levels for further gains.
For more forecasts and analysis, Click here
To get free forex signals, Click here (No registration required)
Follow us on Facebook
