AUD/JPY Consolidates After Rally As Bulls Eye Higher Targets

AUDJPY Analysis – September 4

The AUDJPY pair maintains a robust bullish outlook despite experiencing a modest pullback, holding firmly above critical support zones. Market sentiment remains tilted in favour of buyers, who continue to dominate following a sustained multi-month advance, thereby keeping the door open for further upside opportunities.

AUDJPY Key Levels

Support Levels: 93.260, 94.366, 91.820
Resistance Levels: 98.260, 97.280, 100.220

AUDJPY Long-Term Trend: Bullish (Daily Chart)

AUDJPY on the daily chart reveals a strong uptrend that kicked off from February lows near 88.60 key zone. The pair climbed steadily, respecting a rising channel, with buyers defending the lower boundary during pullbacks. Currently at 96.774 with a 0.15% dip, the price sits within the Bollinger Bands hugging the midline SMA at 94.935, which has flipped from resistance to support. This setup highlights bull control, as the bands expand slightly on the upside, accommodating further gains.

No clear reversal patterns like a double top are evident; instead, the action resembles a Wyckoff re-accumulation, where smart money absorbs dips before pushing higher. The Momentum at 1.500 stays positive, confirming sustained buying pressure and signalling traders to anticipate continued upside, though a drop below zero could invite deeper corrections.

AUD/JPY Short-Term Trend: Ranging 

The 4-hour view captures AUD/JPY at 96.772, down 0.01%, illustrating a brief consolidation after the August surge from 93.269. This timeframe shows price respecting an ICT breaker block around 96.00, where previous highs were swept before the pullback. This allows sellers a temporary breather. The Bollinger Bands here are narrowing, indicating compressed volatility and a potential explosive move ahead—likely upward given the overall trend.

Trading volume appears steady on green candles, suggesting buyers are stepping in on dips without overwhelming force yet. The Momentum at -0.074 has crossed below zero, hinting at short-term seller influence and advising traders to wait for a positive flip before entering longs, as it could precede a quick rebound to test 97.287.