AUD/JPY Price Analysis: Climbs above 97.00 on risk appetite improvement, buyers eye 98.00

AUD/JPY climbs to 97.27, fueled by positive risk appetite, despite Australia's weak jobs report.
Bullish technical outlook as pair surpasses Ichimoku Cloud, aiming for 97.79 resistance.
Downside risks for AUD/JPY below 97.00, with supports at 96.64, 96.58, and critical 96.00 level.

Christian Borjon Valencia FXStreet

The Aussie Dollar (AUD) extended its gains against the Japanese Yen (JPY) for the second straight day as risk appetite improved, although soft jobs data from Australia might deter the Reserve Bank of Australia (RBA) from tightening monetary policy. At the time of writing, the AUD/JPY trades at 97.27, up 0.25%, on the day.

Therefore, from a technical standpoint, the AUD/JPY is upward biased once it has broken above the Ichimoku Cloud (Kumo), which has cleared the path to challenge the next cycle high seen at 97.79, the January 11 high. Once cleared, buyers could test the 98.00 figure, ahead of the November 24 high at 98.54.

On the other hand, if bears drag prices below the 97.00 figure, that could open the door for further losses. The first support would be the January 17 low of 96.64, followed by the January 16 low of 96.58. The next support would be the 96.00 figure.

AUD/JPY Price Action – Daily Chart

AUD/JPY Key Technical Levels

AUD/JPY

Overview
Today last price	97.23
Today Daily Change	0.16
Today Daily Change %	0.16
Today daily open	97.07

Trends
Daily SMA20	96.81
Daily SMA50	96.87
Daily SMA100	96.02
Daily SMA200	94.63

Levels
Previous Daily High	97.14
Previous Daily Low	96.65
Previous Weekly High	97.8
Previous Weekly Low	96.15
Previous Monthly High	98.07
Previous Monthly Low	93.73
Daily Fibonacci 38.2%	96.95
Daily Fibonacci 61.8%	96.84
Daily Pivot Point S1	96.76
Daily Pivot Point S2	96.46
Daily Pivot Point S3	96.27
Daily Pivot Point R1	97.26
Daily Pivot Point R2	97.45
Daily Pivot Point R3	97.75

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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