AUD/JPY Price Analysis – September 10
Australian Dollar is showing formidable strength against the Japanese Yen, as the AUD/JPY pair is driven by strong bullish momentum toward a critical multi-month resistance zone. Buyers are firmly in command of the price action, and robust indicator readings suggest they have the strength to challenge and potentially break through the overhead supply. The market is now at a pivotal point that could dictate the trend for the coming weeks.
AUD/JPY Key Levels
Support Levels: 97.287, 94.366
Resistance Levels: 98.262, 100.220
AUD/JPY Long-Term Trend: Bullish (Daily Chart)
The daily chart for AUD/JPY highlights a sustained uptrend that has been in place since the second quarter. The pair has consistently formed higher lows, demonstrating persistent buying interest on any dips. Currently trading at 97.614, the price is pressing against a significant resistance area that has capped rallies multiple times over the past year. A decisive close above this zone is crucial for the continuation of the trend.
The bullish sentiment is strongly supported by the technical indicators. The Relative Strength Index (RSI) is at a strong 66.13 and is trending upwards, indicating powerful momentum is behind the move. Simultaneously, the Money Flow Index (MFI) reads 69.41, confirming that significant capital is flowing into the pair, fueling the rally. Both indicators show that bulls are in clear control.
AUD/JPY Short-Term Trend: Bullish (4-Hour Chart)
On the 4-hour timeframe, the bullish structure is even more pronounced. The AUD/JPY has been in a clean and steady uptrend, breaking past the former resistance at 97.287 and turning it into a potential new support floor. The price is currently in a phase of tight consolidation just below the major resistance, a classic sign of strength as sellers are unable to push the price down.
This bullish consolidation is reflected in the indicators. The RSI is elevated at 67.60, and the MFI is at 64.46. Both readings are firmly in bullish territory, indicating that despite the pause in upward price movement, the underlying buying pressure remains high.
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