Today’s outlook for the AUD/JPY pair shows a generally bullish trend. The exchange rate is expected to hover around ¥101.36, with forecasts indicating a slight decline to ¥101.26 in the short term. However, technical indicators suggest positive momentum, as the current rate is above both the 50-day and 200-day moving averages, which stand at ¥98.31 and ¥101.26, respectively.
In the near future, analysts predict that AUD/JPY could rise to around ¥102.50 by November 2024, supported by bullish sentiment and favorable moving averages.
However, short-term fluctuations might see some downward pressure, as indicated by a modest potential drop in the next 24 hours.
In summary, AUD/JPY is currently on an upward trend, though some short-term corrections could occur. Keep an eye on market dynamics as geopolitical and economic factors in Australia and Japan may also influence the pair’s performance.
Please note that this information does not guarantee any profits, so make your own decisions when trading.