- Analytics
- News and Tools
- Market News
- AUD/JPY Price Analysis: Bulls flex muscles above 92.00 with eyes on RBA
AUD/JPY Price Analysis: Bulls flex muscles above 92.00 with eyes on RBA
- AUD/JPY extends the previous day’s rebound, remains firmer around intraday high.
- MACD teases bulls but the key SMA, symmetrical triangle challenge upside momentum.
- Reserve Bank of Australia Preview: Will a 15 bps rate hike be enough to lift the aussie?
AUD/JPY picks up bids to refresh intraday high around 92.25 during the pre-RBA run-up on Tuesday.
In doing so, the cross-currency pair respects the recently bullish MACD signals while approaching the 200-SMA resistance near 92.30. Also favoring the AUD/JPY buyers are the hopes of a 0.15% rate hike from the Reserve Bank of Australia (RBA), its first rate lift since late 2010.
Even if the quote rises past 92.30, a downward sloping trend line from April 21 and the 100-SMA, respectively around 92.80 and 93.15, will challenge the pair’s further upside.
Alternatively, pullback moves remain elusive until staying beyond the weekly support line, at 91.60 by the press time.
Following that, a downside towards late April lows near 90.45 and the 90.00 threshold can’t be ruled out.
Overall, AUD/JPY remains on the front foot ahead of the key event.
AUD/JPY: Four-hour chart
Trend: Pullback expected
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
