AUD/JPY Price Analysis: Struggles at 100.00, retreats but uptrend stays intact

AUD/JPY nears 100.00 after strong Australian job data. Above Ichimoku Cloud, moving averages hint bullish trend. Resistance at 100.17, 101.00, with 102.84, 2014’s swing high as next target. Correction might pull to 99.05 and retreat deeper to 98.53, but bullish sentiment prevails. At the time of writing, the pair is 99.62 shy of the 100.00 figure after hitting a ten-year high of 100.17 on positive Aussie jobs data. AUD/JPY Price Analysis: Technical outlook.

Up next would be the 2014 high at 102.84. Nevertheless, due to an overextended market move, the potential for a mean reversion move increases. Even though a pullback to the February 23 swing high at 99.05 isn’t out of cards, the pullback could be capitalized by bulls, as the rally is set to continue. However, a deeper pullback below that level could expose the Tenkan and Kijun-sen levels at 98.53. AUD/JPY Price Action – Daily Chart AUD/JPY Overview Today last price 99.63 Today Daily Change 0.

Source: Digital Coin News (digitalcoinnews.net)

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