The AUD/JPY pair is expected to be neutral to bearish in the next 15 hours, with a slight bias towards selling. Here's the analysis to support this conclusion:
- Recent Price Action: The AUD/JPY has experienced a significant drop, with the pair hitting a two-week low of 103.89 before stabilizing. This indicates a recent bearish trend.
- Market Sentiment: The sentiment is mixed, with rising geopolitical tensions contributing to risk aversion and a depreciation of the AUD. However, the hawkish outlook surrounding the Bank of Japan's policy and the positive Trade Balance data for Australia may provide some support.
- Support and Resistance Levels: The key support level is at 103.27 (Senkou Span A), while the resistance is at 104.50 (YTD high). The pair is trading near 104.00, which could be a point of interest for buyers looking for support.
- Upcoming Events: There are no significant events scheduled for the next 15 hours that could impact the pair. However, ongoing geopolitical risks and interest rate expectations could continue to influence the pair.
In conclusion, given the mixed market sentiment, recent price action, and the proximity to support levels, the decision to buy or sell AUD/JPY in the next 15 hours should be based on a cautious approach, with a bias towards selling due to the overall bearish sentiment. Traders should consider the potential for a short-term rally if the pair surpasses 104.50, but maintain a bearish outlook overall.
It's important to note that this analysis is based on the information available and does not guarantee future performance. Traders should always conduct their own analysis and consider their risk tolerance before making trading decisions.
The specific timeframes for "next 10h" and "next 15h" may not align with the analysis provided, as the analysis is based on the broader market context and not on exact time intervals. The decision to buy or sell should be based on a comprehensive analysis of the market conditions and personal trading strategy.
The analysis provided for "Aud/Jpy in the next 10h" and "Aud/Jpy in the next 15h" is the same, as the timeframes requested do not significantly alter the market context or analysis.