AUD/JPY Price Analysis:Bulls Pause, pair remains steady above 108.00

• AUD/JPY moderates, hovering step by step above the 108.00 impress, wrapping up every week with a 1% invent.
• Investors are taking a breather and conserving the atrocious in cycle highs.
• A healthy correction shouldn’t be taken off the table.

Within the shopping and selling session of Friday, the AUD/JPY pair curtailed its fresh bullish momentum nevertheless managed to shut the week around 108.50 level. This exiguous pullback, maybe an build of merchants booking earnings, has not blown out the bullish shine of the pair’s weekly efficiency, winning a shut of 1%.

Within the day’s efficiency, the Relative Strength Index (RSI) for the AUDJPY settled at 80, translating exact into a knocking down nevertheless silent pointing in direction of an overbought scenario. This might perchance just define the doable of a drawing shut correction within the shut to time-frame. Similtaneously, the Gripping Moderate Convergence Divergence (MACD) painted a scenario of knocking down inexperienced bars, mirroring a cooling of the sturdy bullish momentum.

AUD/JPY daily chart

Having a peep at the larger characterize, the AUD/JPY pair keeps showing signs of sturdy bullish sentiment underpinned by its standing above the 20-day, 100-day, and 200-day Simple Gripping Averages (SMAs). Within the tournament of a corrective stress bringing the pair would maybe will face at the 108.00 impress after which additional down at the 107.50 and 107.00 levels. Namely, the 104.90 (20-day SMA) level would maybe again as an additional enhance line.

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