AUD/JPY Intraday Signal: Upside Prevails Toward 104.36
Analysis:
AUD/JPY holds a strong bullish intraday outlook while trading above the pivot support level at 103.29. As long as this support remains intact, buyers are expected to push the pair toward 104.10 and the main resistance target at 104.36. The structure continues to display strong upward momentum with higher highs and higher lows.
Momentum indicators reinforce this bullish bias. The RSI is above 70, indicating powerful upward momentum, although this may also suggest overbought conditions where a correction could occur if bearish divergence appears. The MACD is positive and above its signal line, confirming continued bullish pressure. Price also trades above the 20- and 50-period moving averages, highlighting a well-supported uptrend.
Notably, AUD/JPY is currently trading above the upper Bollinger Band, a sign of exceptional bullish strength — but also a potential indicator of near-term volatility or pullback risk.
A clean break above 104.10 would confirm continued bullish extension toward 104.36.
Alternatively, a drop below 103.29 would weaken the bullish scenario and expose downside targets at 102.90 and 102.68.
Trade Setup:
Enter: Long above 103.29
Stop-Loss (SL): 102.90
Target A: 104.10
Target B: 104.36
