AUD/JPY Price Forecast: Tests 100.50, nine-day EMA amid potential momentum shift

• AUD/JPY may appreciate as daily chart analysis indicates a potential shift in price momentum from bearish to bullish.
• A bullish reversal could be possible if the nine-day EMA breaks above the 14-day EMA.
• A break above nine- and 14-day EMAs could cause the emergence of a bullish bias.

The AUD/JPY cross remains relatively flat around 100.50 during the Asian trading session on Tuesday, following a nearly 1% gain in the previous session. An analysis of the daily chart suggests a potential shift in momentum from bearish to bullish as the pair seeks to break above the nine-day Exponential Moving Average (EMA).

Additionally, the nine-day EMA is currently just below the 14-day EMA. An upward crossover would signal a shift in the short-term price momentum from bearish to bullish, as it indicates that recent prices are gaining strength and pushing higher compared to the longer-term trend.

Additionally, the 14-day Relative Strength Index (RSI) is at the 50 level, signaling a neutral market condition. Any further movement in the AUD/JPY cross will likely determine the next clear directional trend.

To the upside, the AUD/JPY cross is testing immediate resistance at the nine-day EMA around the 100.58 level, followed by the 100.61 level. A break above these levels could trigger a bullish bias, potentially pushing the currency cross toward the four-month high of 102.41, reached on November 7.

On the downside, the primary support for the AUD/JPY cross is located around the recent low of 99.42. A break below this level would strengthen the bearish outlook and could drive the cross toward the psychological support level of 99.00.

AUD/JPY: Daily Chart