AUD/JPY remains bullish on the daily timeframe, with price continuing to hold above the 100-day Moving Average โ a sign that buyers are still in control of the broader trend.
๐ Key Observations: โ The overall uptrend remains intact. โ RSI is holding near neutral territory, suggesting momentum has cooled but has not turned bearish. โ Price is testing an important resistance zone.
๐ Bullish Scenario: A strong daily close above 114.80 could trigger further upside momentum toward the psychological resistance at 115.00.
๐ Bearish Scenario: Failure to break above resistance may lead to a corrective pullback toward: ๐น 114.00 โ Initial Support ๐น 113.20 โ Strong Support Zone A deeper decline could expose the 100-day Moving Average around 111.55, where buyers may look to re-enter the market.
โ ๏ธ Trading Tip: Patience is key. Let the market confirm its direction before entering positions, especially with high-impact news events influencing market sentiment.