AUD/JPY advances, navigating through mixed market signals and intervention concerns, marking a 0.38% increase. Technical indicators point to the first significant resistance at the Tenkan-Sen, with potential to test year-to-date highs. Downside risks remain, with support levels identified at the Kijun-Sen and the 50-day moving average. The AUD/JPY registered gains of 0.38% on Tuesday, amid a risk-off impulse as depicted by Wall Street.
US equities posted mild losses, though it was ignored by risk-perceived currencies in the FX markets, like the Australian Dollar. AUD/JPY Price Analysis: Technical outlook The threats of an intervention in the Forex markets to boost the Japanese Yen (JPY) by Japanese authorities, keeps traders at bay, uncommitted to open fresh long bets that could send the AUD/JPY toward the -year-to-date (YTD) high if 100.17. The Relative Strength Index (RSI) depicts that buyers are in charge. That said, the AUD/JPY first resistance level would be the Tenkan-Sen at 9