USDJPY
EURUSD
AUDJPY
AUD/JPY Price Forecast: Softens near 104.00 amid intervention fears, broader uptrend prevails
Key Takeaways (30s Read)
Selling pressure near 104.00, while AUD/JPY maintains an upward trend.
AUD/JPY has encountered selling pressure near 104.05 during the early European session, with the Japanese Yen strengthening against the Australian Dollar amid intervention fears. This situation requires traders to pay close attention to psychological levels, such as the 104.00 mark. Despite the current selling pressure, the broader uptrend in AUD/JPY remains intact, hinting at the potential for new highs if the trend prevails. Traders should remain cautious and consider the evolving market conditions before making trading decisions.
AI Analyst
AI Opinion
"The AUD/JPY market is experiencing increased selling pressure near the significant psychological level of 104.00. However, the overall trend indicates a bullish movement, with the fear of intervention causing short-term volatility but suggesting that AUD/JPY may aim for new highs in the long term. Even as selling pressure mounts, the trend remains upward, compelling traders to closely analyze current conditions before entering positions. Risk management is crucial at this stage, necessitating a careful approach."
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