In the trading session of Friday, the AUD/JPY pair curtailed its recent bullish momentum but managed to close the week around 108.50 level.
AUD/JPY moderates, hovering steadily above the 108.00 mark, wrapping up a week with a 1% gain. Buyers are taking a breather and keeping the cross in cycle highs. A healthy correction shouldn’t be taken off the table. This slight pullback, most likely an effect of traders booking profits, has not blown out the bullish shine of the pair's weekly performance, winning a close of 1%.
This may indicate the potential of a forthcoming correction in the near term. Concurrently, the Moving Average Convergence Divergence painted a scenario of flattening green bars, mirroring a cooling of the robust bullish momentum. AUD/JPY daily chart Looking at the bigger picture, the AUD/JPY pair keeps showing signs of robust bullish sentiment underpinned by its standing above the 20-day, 100-day, and 200-day Simple Moving Averages .
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