AUD/JPY Price Forecast: Aussie Faces Tough Resistance Near 100.00
The AUD/JPY pair fell to around 99.55 in early European trading on Tuesday, down about 0.60% for the day. Even after the fall, the overall trend is still positive, as the pair stays above its 100-day moving average. The RSI around 57.50 also shows that buying pressure is still there.
On the higher side, the big resistance level is 100.00. If the price moves above this mark, it could rise toward 100.90, and later to around 102.30, which was the high in November 2024.
On the lower side, the first support is near 98.54. If the price drops below this, it could move down to 97.25, and further losses might take it close to 96.90, which is the 100-day moving average level.
The Japanese Yen also got some support after Japan and the US signed an agreement on rare earth minerals, which made the Yen a bit stronger against the Aussie. Traders are now waiting for Australia’s CPI data and the Bank of Japan meeting, which could bring more movement in the pair.
Impact :
The pair might test 100.00 again if buyers stay active, but if it falls below 98.54, it could move toward 97.25 in the coming days.
