AUD/JPY could test the key level of 104.00, followed by the upper boundary of the ascending triangle. The momentum indicator 14-day RSI suggeststhe confirmation of the bullish bias for the pair. The immediate support appears around the 14-day EMA at 103.63 and the lower threshold of the ascending triangle. However, the analysis of the daily chart indicates a bullish bias for the AUD/JPY pair, as it remains within an ascending triangle.
On the downside, the 14-day Exponential Moving Average at 103.62serves as immediate support for the AUD/JPY cross, followed by the lower threshold of the ascending triangle around the key level of 103.50. A break below the latter could lead the AUD/JPY cross to navigate the region around the psychological level of 100.00 and the throwback support at 99.93. Further decline could exert downward pressure on the cross, potentially driving it toward April's low of 97.78.