AUD/JPY price analysis: Bulls dominate momentum and clear daily losses

The AUD/JPY is currently trading at 97.70 with mild gains in the Thursday session after bottoming at a low of 97.30.
Daily chart indicators suggest that the buyers are in control of short-term price movement.

Patricio Martín FXStreet

On Thursday, the AUD/JPY pair was rebounding from a daily low of 97.30 to 97.70 suggesting that the bulls are controlling the movement. The overall trend is also positive as the cross holds above the main Simple Moving Averages (SMAs).

On the daily chart, the Relative Strength Index (RSI) for the pair is currently in positive territory, indicating a positive momentum. The RSI has been trending slightly higher over the past few days, suggesting that buyers continue to dominate the market. In addition, the Moving Average Convergence Divergence (MACD) histogram is showing a rising trend, with green bars indicating positive momentum further supporting the positive outlook. Looking at the larger context, the AUDJPY pair remains above the 20, 100, and 200-day Simple Moving Averages (SMAs), indicating a bullish overall trend. This further supports the positive outlook for the pair.

AUD/JPY daily chart

AUD/JPY

Overview
Today last price	97.79
Today Daily Change	0.04
Today Daily Change %	0.04
Today daily open	97.75

Trends
Daily SMA20	97.12
Daily SMA50	96.71
Daily SMA100	96.48
Daily SMA200	95.32

Levels
Previous Daily High	97.76
Previous Daily Low	97.07
Previous Weekly High	97.46
Previous Weekly Low	96.22
Previous Monthly High	97.88
Previous Monthly Low	95.84
Daily Fibonacci 38.2%	97.49
Daily Fibonacci 61.8%	97.33
Daily Pivot Point S1	97.29
Daily Pivot Point S2	96.84
Daily Pivot Point S3	96.6
Daily Pivot Point R1	97.98
Daily Pivot Point R2	98.21
Daily Pivot Point R3	98.67

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

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