AUD/JPY Intraday Signal: Overbought Conditions but Uptrend Holds Above 98.94
The AUD/JPY pair continues to extend its bullish momentum, holding firmly above the pivot level at 98.94. Despite the RSI reading above 70, which typically indicates overbought conditions, the broader trend remains positive as long as the price stays above support. Traders should, however, watch for any potential bearish divergence that may signal a short-term pullback.
The MACD remains above its signal line and in positive territory, confirming ongoing upside momentum. Additionally, the pair is trading above both its 20- and 50-period moving averages (98.89 and 98.69, respectively), reinforcing the strength of the uptrend.
As long as 98.94 holds as support, the bias stays bullish with targets at 99.50 and 99.87. However, a drop below 98.94 could trigger a correction toward 98.63 and 98.44, especially if the RSI begins to normalize. Traders may look for confirmation candles or volume support before entering new long positions at current levels.
Enter: Long above 98.94
Stop-Loss (SL): 98.63
Target A: 99.50
Target B: 99.87
