BitcoinWorld AUD/JPY Price Forecast: Bulls Hold Above 113.00 as Key Average Supports Uptrend The AUD/JPY currency pair is grinding higher above the 113.00 level, maintaining a bullish structure as it holds above a key moving average. Traders are watching for a potential breakout or pullback as the pair consolidates recent gains. Bullish Bias Intact Above Key Moving Average The 50-day simple moving average (SMA) continues to provide dynamic support, reinforcing the bullish trend that has been in place since the October lows. The pair’s ability to stay above this level suggests that buyers remain in control, despite occasional profit-taking and resistance near the 114.00 handle. The Relative Strength Index (RSI) is hovering in neutral-to-bullish territory, indicating room for further upside before becoming overextended. A sustained move above the 114.00 resistance zone could open the path toward the 115.00 psychological level, which has acted as a ceiling in recent months. Key Levels to Watch On the downside, immediate support lies at the 113.00 round number, followed by the 50-day SMA near 112.50. A break below this moving average would signal a short-term bearish shift, potentially exposing the 112.00 level. However, the broader trend remains bullish as long as the pair holds above the 100-day SMA around 111.80. Resistance is clustered between 114.00 and 114.50, where the pair has faced selling pressure in the past. A decisive close above this zone would confirm the next leg higher, with the next major target at 115.50. Market Drivers and Context The Australian dollar has been supported by resilient domestic economic data and a relatively hawkish stance from the Reserve Bank of Australia (RBA). Meanwhile, the Japanese yen remains under pressure due to the Bank of Japan’s (BoJ) ultra-loose monetary policy, which continues to weigh on the currency. The interest rate differential between Australia and Japan favors the Aussie, providing a fundamental tailwind for the AUD/JPY cross. Global risk sentiment also plays a role, as the Australian dollar is considered a risk-sensitive currency. Positive developments in global trade or economic growth tend to boost AUD/JPY, while risk-off events can trigger sharp selloffs. Conclusion The AUD/JPY pair is exhibiting a healthy bullish trend, supported by technical and fundamental factors. The key moving average provides a clear level for traders to gauge trend strength. A break above 114.00 would likely attract further buying, while a drop below 112.50 would warrant caution. As always, traders should monitor upcoming economic data from both Australia and Japan for potential catalysts. FAQs Q1: What is the current trend for AUD/JPY? The trend is bullish, with the pair trading above its 50-day simple moving average and holding above the 113.00 support level. Q2: What are the key support and resistance levels for AUD/JPY? Key support is at 113.00 and the 50-day SMA near 112.50. Resistance is at 114.00 and 114.50, with a breakout targeting 115.00. Q3: What factors are driving AUD/JPY price action? The pair is driven by the interest rate differential between the RBA and BoJ, Australian economic data, global risk sentiment, and technical levels. This post AUD/JPY Price Forecast: Bulls Hold Above 113.00 as Key Average Supports Uptrend first appeared on BitcoinWorld .
