AUD to Japanese yen current rate: AUD/JPY is a popular trading pair. Currently, the AUD/JPY price sitting at the 100 to 100.20 level.
AUD to Japanese yen
AUDJPY Analysis :
Yesterday, AUD/JPY surged to 101.20 before quickly reversing and falling to the 100.00 level. In the 4-hour timeframe, the 50 EMA and 200 EMA are positioned below the current price, at 99.30 and 98.40 respectively. These moving averages are acting as short-term support levels at 99.30 and 98.40. Additionally, the price level of 101.70 continues to act as a significant resistance.
AUDJPY Forecast Today:
We anticipate that AUD JPY may soon enter a short-term uptrend and potentially rise towards the 101.70 resistance level. If it breaks above 101.70, there is a possibility of further upward movement. On the other hand, the chances of a bearish decline seem low, as the 50 EMA and 200 EMA are providing strong support, preventing the price from falling. However, if the price drops below 99.20 and holds there, the next bearish target could be 98.40.
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