AUD/JPY Price Analysis: Bulls steer the market towards 101.00, its highest since 2014

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 20 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 72%

AUDJPY News

Crosses,Currencies,Technical Analysis

The AUD/JPY market showcases an increasingly bullish trend.

The daily RSI of the AUD/JPY continues its uphill journey, nearing overbought territory, amplifying buying traction. Hourly indicators are also strong, with no signs of bears. A healthy correction shouldn't be ruled out. The cross stabilized at 100.89 on Wednesday, after rallying to a high at 101.12, its highest since 2014. The general market interest leans towards the buyers as the pair follows an upward trend and surpasses significant levels. However, as the pair gained nearly 1.

AUD/JPY hourly chart In the broader outlook, the AUD/JPY indicates a bullish trend, given its current position above the 20, 100, and 200-day Simple Moving Average . SMAs serve as technical indicators for analyzing price trends by smoothing out price fluctuations. The pair's stance above all three SMAs suggests a strong stance from the bull in the short and long-term perspectives.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EUR/JPY Price Analysis: Bulls lose traction, possible market cooling may followThe EUR/JPY pair is trading at 164.25 and has decreased by 0.30% in Wednesday’s session.
Source: FXStreetNews - 🏆 14. / 72 Read more »