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Buyers in charge eyeing 97.00

November 2, 2023| Forex Market


  • AUD/JPY resumes uptrend, trading near Thursday’s highs, with a 2.29% rally since Monday.
  • Buyers aim to challenge the YTD high 97.67, with first resistance levels at 97.00 and June 20 high at 97.41.
  • If sellers push prices toward Tenkan-Sen at 95.58, AUD/JPY could turn neutral, exposing the bottom of Ichimoku Cloud at 94.33.

the AUD/JPY appears to have resumed its uptrend, though it remains below the year-to-date (YTD) high of 97.67. Still, it’s exchanging hands at around Thursday’s highs as buyers stepped into the market. However, as the Asian session begins, the pair trades at 9674, almost flat.

Since Monday, the AUD/JPY has rallied 2.29%, breaking on its way north, crucial resistance levels, lie at the 96.00 figure, and the psychological 96.50 area. Nevertheless, the rally was caped on September 29 high at 96.92. It should be said that if buyers would like to challenge the YTD high, first, they need to conquer 97.00, followed by the June 20 high at 97.41, which, once cleared, would expose the aforementioned YTD high.

On the other hand, the AUD/JPY could turn neutral if sellers push prices toward the Tenkan-Sen at 95.58, followed by the Kijun-Sen at 94.97. That would drag prices inside the Ichimoku  Cloud (Kumo), exposing the bottom of the latter at 94.33.

AUD/JPY Price Chart – Daily

AUD/JPY Key Technical Level


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