In Tuesday's session, the AUD/JPY pair received a boost following the Reserve Bank of Australia (RBA)'s hawkish hold, with the momentum propelling the pair towards the 105.00 level.
AUD/JPY got propelled near 105.00 on Tuesday, driven by the Reserve Bank of Australia RBA's hawkish hold. Tusaday's move confirms a positive short-term outlook. Fundamentals may have driven the pair out of the consolidation phase seen in the last sessions. In Tuesday's session, the AUD/JPY pair received a boost following the Reserve Bank of Australia 's hawkish hold, with the momentum propelling the pair towards the 105.00 level.
AUD/JPY daily chart To sum it up, the AUD/JPY pair's solid performance on Tuesday supplements a broader bullish trend, with the trend's strength substantiated by the pair's value above the 20-day, 100-day, and 200-day SMAs. In the next sessions, traders can expect the pair to continue its uptrend movement within the 105.00-106.00 range as bulls have terrain to continue climbing with indicators far from overbought conditions.
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