During Thursday's session, the AUD/JPY pair maintained its uptrend, achieving new cycle highs around 105.70, its the highest point reached since 2013.
AUD/JPY continues its rally, reaching fresh cycle highs around 105.70on Thursday. Daily RSI and MACD stand deep in positive terrain. Indicators point towards more room for additional gains. During Thursday's session, the AUD/JPY pair maintained its uptrend, achieving new cycle highs around 105.70, its the highest point reached since 2013. There has been a clear consolidation around the 104.00 level in the last sessions, and as the sellers failed to make a significant move, buyers stepped in.
AUD/JPY daily chart In summary, the AUD/JPY pair's robust showing on Thursday endorses a broader bullish outlook, with the intensity of the trend validated by the pair's position above the 20-day, 100-day, and 200-day Simple Moving Averages . Looking forward, traders can expect the pair to sustain its uptrend, potentially reaching into the 105.80-106.00 range, as current indicators do not suggest over-extended movements and hence provide space for subsequent gains.
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