In Wednesday's session, the AUD/JPY pair exhibited a promising move, surpassing the 20-day Simple Moving Average (SMA) at 103.90.
The AUD/JPY pair surpassed the 20-day SMA, indicating a rising bullish momentum. Despite the rise, the pair is still in a consolidation phase, hinting at the possibility of limited gains. The bull's next target stands at 105.00. In Wednesday's session, the AUD/JPY pair exhibited a promising move, surpassing the 20-day Simple Moving Average at 103.90. This could be a positive sign, demonstrating strength in the Australian Dollar against its competitors.
AUD/JPY daily chart In conclusion, the AUD/JPY pair seems to be in a consolidation phase, despite successfully rising above the 20-day SMA. The range of 102.00-103.00 may denote the next trading patterns unless the bulls retain control above the 20-day SMA. Nonetheless, the reduction in selling momentum could denote a preparation by the bulls for the next upward swing and might retest the 105.00 area. AUD/JPY Overview Today last price 104.38 Today Daily Change 0.57 Today Daily Change % 0.
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