AUD/JPY Price Analysis: Climbs towards weekly highs, shy of testing 96.00
- AUD/JPY trades with slight gains at 95.65, lingering below the weekly high of 95.73.
- Bullish technical indicators hint at upward potential, including a favorable Ichimoku Cloud setup.
- Key resistance and support levels were identified at 96.00 and 95.12, respectively, framing the short-term outlook.
AUD/JPY marches high late in the New York session but remains trading below the daily/weekly high reached earlier during the North American session at around 95.73, though it remains trading with minuscule gains of 0.02%, at around 95.65.
Price action depicts the cross-currency pair remaining sideways, though slightly tilted to the upside. The AUD/JPY sits above the Ichimoku Cloud (Kumo), a bullish signal, with the Tenkan and Kijun-Sen located in an orderly bullish way, while Chikou Span turned bullish three days ago. Hence, in the near-term, the pair is upward biased.
The AUD/JPY first resistance would be the 96.00 figure, followed by the September 29 swing high at 96.92, before testing the 97.00 mark. On the flip side, the cross-pair first support would be the October 10 daily low of 95.12, followed by the 95.00 mark. Once those two levels are cleared, the AUD/JPY could slide towards testing the October 3 low of 93.01.
AUD/JPY Price Action – Daily chart
AUD/JPY Key Technical Levels