The AUD/JPY rallies sharply amid a risk-on impulse as Wall Street resumes its rally amid a light economic docket.
AUD/JPY climbs sharply, approaching the key psychological level of 100.00, buoyed by renewed optimism in global markets. Technical analysis highlights potential resistance at the year-to-date high of 100.81, with further targets at 101.00. Key support levels identified at 99.65 and 99.20, with potential downside risk to the March 28 low at 98.17. At the time of writing, the cross-pair trades at 99.87 clocks gains of more than 0.60%.
Once this level is cleared, the next significant resistance would be at 101.00, providing clear targets for traders to considers. On the other hand, the AUD/JPY first support would be the 61.8% Fibo retracement at 99.65. Once cleared, the pair could drop toward the Tenkan-Sen and the Senkou Span A confluence at 99.20, followed by the 99.00 mark. Once surpassed, the next stop would be the March 28 swing low of 98.17. AUD/JPY Price Action – Daily Chart AUD/JPY Overview Today last price 99.
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