AUDJPY Bulls Hold Ground Targeting 96.860 Key Level 

AUDJPY bulls hold ground, targeting the 96.860 key level. AUDJPY remains on a positive trajectory, with buyers recovering from the 95.550 significant level. Despite strong attempts to break above 100.000, bullish momentum has been met with resistance. However, a renewed push is now targeting 96.860, signaling buyers’ intent to regain control.

Support Levels: 95.550, 95.000, 96.000

Resistance Levels: 96.860, 98.260, 99.000

Since the start of the year, AUDJPY has been cycling within a range-bound market, with buyers struggling to sustain upward momentum. Earlier this week, sellers rejected price movement near 98.260, causing a dip toward the 95.530 key level. Now, buyers are attempting to stage a recovery, as indicated by the Bollinger Band indicator. This signals a widening spread—a sign of increasing volatility that could favour further upside movement.

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The RSI (Relative Strength Index) remains neutral but hints at bullish strength, suggesting that buyers still hold an edge against sellers. If buyers break above 96.860, the next major target would be 98.260, reinforcing bullish continuation. A strong close above this level would indicate further upside potential toward the key psychological 100.000 resistance.

In the shorter time frame, bullish activity remains dominant, with prices steadily recovering from recent lows. The Bollinger Band indicator is yet to fully expand, indicating a potential for further volatility.

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The RSI shows bullish intent, confirming that buyers are regaining strength and could push toward the 96.650 key level in the coming sessions.