AUD/JPY Rises on Hopes for China’s Economic Recovery
Market Overview
The
AUDJPY pair is currently positioned for a continued upward movement, fueled by optimism over China's economic recovery and broader risk appetite in global markets. Technical indicators support the bullish outlook, but buyers will need to clear key resistance levels to sustain the rally. Meanwhile, upcoming inflation data from Australia and Japan will be crucial in shaping the next direction for this pair, with a potential for increased volatility as the market digests these figures.
Technical Outlook
On the technical front,AUDJPY remains in an upward trend on the two-hour chart. Buyers have repeatedly tested the key 98.711 resistance level, signaling strong upward momentum. If they successfully maintain the price above this critical barrier, the pair could aim for higher targets at 99.030, 99.187, 99.482, and ultimately 99.801. However, the climb towards these resistance levels could experience some volatility as market conditions shift.
Key Events to Watch
Meanwhile, upcoming inflation data from Australia and Japan will be crucial in shaping the next direction for this pair, with a potential for increased volatility as the market digests these figures.
The
AUDJPY pair is currently positioned for a continued upward movement, fueled by optimism over China's economic recovery and broader risk appetite in global markets. Technical indicators support the bullish outlook, but buyers will need to clear key resistance levels to sustain the rally. Meanwhile, upcoming inflation data from Australia and Japan will be crucial in shaping the next direction for this pair, with a potential for increased volatility as the market digests these figures.Technical Outlook
On the technical front,
AUDJPY remains in an upward trend on the two-hour chart. Buyers have repeatedly tested the key 98.711 resistance level, signaling strong upward momentum. If they successfully maintain the price above this critical barrier, the pair could aim for higher targets at 99.030, 99.187, 99.482, and ultimately 99.801. However, the climb towards these resistance levels could experience some volatility as market conditions shift.Key Events to Watch
Meanwhile, upcoming inflation data from Australia and Japan will be crucial in shaping the next direction for this pair, with a potential for increased volatility as the market digests these figures.
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