The AUD/JPY shows slight declines at 96.75 during Friday's early European trading session.
Above the 100-day EMA, the cross's optimistic perspective holds sway, and there is short-term bullish momentum.
The first level of support is at 96.56, while the first upward objective is at 97.20.
The AUD/JPY cross is trading at 96.75 in the early European session on Friday, with slight losses. US President Donald Trump signed an executive order on Thursday to reduce Japanese auto import duties, which caused the Japanese yen (JPY) to appreciate versus the Australian dollar (AUD). Japan is striving to hasten the implementation of a 75% increase in US rice procurements, the White House added.
Technically, the cross's positive outlook is still in effect, as the price on the daily chart continues to hold above the important 100-day Exponential Moving Average (EMA). The 14-day Relative Strength Index (RSI), which is above the midline at 59.50, further supports the upward momentum. This suggests short-term bullish momentum.
The upper limit of the Bollinger Band, 97.20, is where the AUD/JPY immediate resistance level appears. A rise toward the July 15 high of 97.43 may become possible if there is a run of green candles and consistent trading above the aforementioned level. The extra upside filter to monitor is 98.45, the high of January 27.
Conversely, the price may return to 96.56, the September 4 low, if the cross attracts sellers and additional red candlesticks appear. The August 29 low of 95.86 could be exposed by persistent trading below this level. The 100-day EMA, 95.30, is the next level of contention.
AUD/JPY Chart Every Day
Above the 100-day EMA, the cross's optimistic perspective holds sway, and there is short-term bullish momentum.
The first level of support is at 96.56, while the first upward objective is at 97.20.
The AUD/JPY cross is trading at 96.75 in the early European session on Friday, with slight losses. US President Donald Trump signed an executive order on Thursday to reduce Japanese auto import duties, which caused the Japanese yen (JPY) to appreciate versus the Australian dollar (AUD). Japan is striving to hasten the implementation of a 75% increase in US rice procurements, the White House added.
Technically, the cross's positive outlook is still in effect, as the price on the daily chart continues to hold above the important 100-day Exponential Moving Average (EMA). The 14-day Relative Strength Index (RSI), which is above the midline at 59.50, further supports the upward momentum. This suggests short-term bullish momentum.
The upper limit of the Bollinger Band, 97.20, is where the AUD/JPY immediate resistance level appears. A rise toward the July 15 high of 97.43 may become possible if there is a run of green candles and consistent trading above the aforementioned level. The extra upside filter to monitor is 98.45, the high of January 27.
Conversely, the price may return to 96.56, the September 4 low, if the cross attracts sellers and additional red candlesticks appear. The August 29 low of 95.86 could be exposed by persistent trading below this level. The 100-day EMA, 95.30, is the next level of contention.
AUD/JPY Chart Every Day
