The AUD/JPY pair prints a fresh weekly high near 98.00 in Monday’s early American session as the market sentiment remains upbeat.
AUD/JPY jumps to 98.00 as the BoJ is expected to delay plans of exiting an ultra-dovish stance. BoJ Ueda manifested a bleak assessment ofJapan’s economic outlook. The RBA is expected to keep its OCR steady at 4.35%. The market mood remains cheerful as China’s better-than-projected Retail Sales and Industrial Production data for February indicated a robust recovery in domestic demand.
The upward-sloping border of the aforementioned pattern is placed from March 11 low at 96.90. The 20-day Exponential Moving Average near 97.75 remains sticky to the risk-barometer, indicating a sideways trend. The 14-period Relative Strength Index oscillates inside the 40.00-60.00 region, which indicates indecisiveness among investors. The appeal for the AUD/JPY would strengthen if the asset breaks above March 6 high at 98.27, which will drive the asset towards February 20 high at 98.
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