© Dukascopy Bank SA
Supports: 81.28; 81.08; 80.24
Outlook
The interim bearish tendency has finally ended, and today the AUD/JPY currency couple experienced a bullish reaction. At the particular moment, the price is gradually advancing towards the 55-day SMA at 81.82 , which might bring some bearish impetus. If it is breached, then the price might reach the 200-day SMA, which in turn is expected to reverse the prevailing uptrend. However, RSI indicator remains neutral, and it is expected to remain unchanged in the nearest future.
Traders' sentiment
SWFX market participants are optimistic regarding the potential strength of the Australian Dollar, since 63% of traders hold long positions and only 37% of traders hold short positions. The situation with orders also supports the prevailing uptrend, as almost 69% of traders ordered to buy and only 31% ordered to sell the aussie.