AUD/JPY Price Analysis: Bulls regain momentum, eyeing 102.00

AUD/JPY up 0.87%, nearing 102.00 due to optimistic global financial outlook.
Technicals: Upward momentum with RSI above 50 indicates bullish control.
Resistances at 102.42 (Tenkan-Sen), 102.84 (2014 high), and 103.47 (April 26 high).

Christian Borjon Valencia FXStreet

The AUD/JPY climbed 0.87% on Monday amid an upbeat market mood, sponsored by increased odds the US Federal Reserve might cut rates sooner than expected. The cross-pair trades at 101.94, shy of the 102.00 figure, as the Asian session begins.

AUD/JPY Price Analysis: Technical outlook

The AUD/JPY is neutral to upward biased, with momentum suggesting that buyers are in charge, with the Relative Strength Index (RSI) indicator standing above the 50-midline. If AUD/JPY buyers would like to extend their gains, they must reclaim 102.00. Once cleared, the next supply zone would be the Tenkan-Sen at 102.42. Once cleared, further gains lie, up at the 2014 yearly high of 102.84, ahead of the April 26 high of 103.47.

On the other hand, if bears drag prices below the Kijun-Sen at 101.36, that will pave the way for testing the Senkou Span B at 100.92. Further losses are seen at the May 1 low of 99.89.

AUD/JPY Price Action – Daily Chart

AUD/JPY

Overview
Today last price	101.94
Today Daily Change	0.79
Today Daily Change %	0.78
Today daily open	101.15

Trends
Daily SMA20	100.5
Daily SMA50	99.24
Daily SMA100	98.18
Daily SMA200	96.78

Levels
Previous Daily High	101.24
Previous Daily Low	100.46
Previous Weekly High	105.04
Previous Weekly Low	99.93
Previous Monthly High	105.04
Previous Monthly Low	97.78
Daily Fibonacci 38.2%	100.94
Daily Fibonacci 61.8%	100.76
Daily Pivot Point S1	100.66
Daily Pivot Point S2	100.17
Daily Pivot Point S3	99.88
Daily Pivot Point R1	101.44
Daily Pivot Point R2	101.73
Daily Pivot Point R3	102.22

Author

Christian Borjon Valencia

FXStreet

Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.

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