The post Consolidates above 100.00 after turning bullish appeared on BitcoinEthereumNews.com.

AUD/JPY remains neutral but holds above 100.00, supported by risk-on sentiment and weakness in the Yen against the US Dollar. If the pair clears 101.40, it could target further upside toward 102.00 and 102.50, with potential resistance at 103.00. A drop below 100.00 would bring support at the top of the Ichimoku Cloud around 99.70/80, with additional support at 98.77. The AUD/JPY consolidates at around 100.30 yet posts minuscule gains of over 0.06% at the time of writing. A risk-on impulse keeps the Australian Dollar from posting losses against the Japanese Yen, which loses some ground against the US Dollar. AUD/JPY Price Forecast: Technical outlook The AUD/JPY is neutral biased, though it has broken the 100.00 barrier. This opened the door for the cross-pair to trade within the 100.00-101.40 range, with further upside eyed. Now that buyers have lifted the exchange rate above the Ichimoku Cloud (Kumo), the pair could test the year-to-date (YTD) peak at 109.37. The momentum remains bullish and slightly consolidated, as shown by the Relative Strength Index (RSI). If AUD/JPY surpassed the October 7 high at 101.40, it opened the door to challenge 102.00. On further strength, the AUD/JPY’s next resistance would be 102.50, ahead of challenging the 103.00 mark Conversely, if the cross-pair drops below 100.00, the first support would be the top of the Kumo at 99.70/80. Once cleared, the next support would be Senkou Span A at 98.77. AUD/JPY Price Action – Daily Chart Australian Dollar FAQs One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as…

---

Filed under: News - @ October 14, 2024 10:26 pm