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The AUD\/JPY extends its gains for the fifth day in a row, climbs 0.30%, and trades at 102.35. Market sentiment remains upbeat, which usually weighs on the Japanese Yen (JPY) safe-haven appeal, which remains the laggard in the Forex<\/a> markets against other peers.<\/p>\n After reaching a year-to-date (YTD) high at 104.95, the AUD\/JPY retreated towards 100.00, following a confirmed intervention by the Bank of Japan (BoJ). Since then, the pair has extended its gains, though it faces solid resistance at the Tenkan-Sen at 102.42.<\/p>\n Momentum favors buyers, with the Relative Strength Index (RSI) standing at bullish territory, aiming upwards with enough room before hitting overbought territory.<\/p>\n If AUD\/JPY buyers want to re-test the YTD high, they must clear the Tenkan-Sen. Once surpassed, the 103.00 figure would emerge as the next stop, ahead of testing April\u2019s 26 high at 103.47. Up next would be 104.00, followed by the YTD high.<\/p>\n On the other hand, buyers’ failure to crack the Tenkan-Sen can pave the way for sellers to step in and push prices lower. The first support would be the 102.00 mark, followed by the Kijun-Sen at 101.36. Further losses are seen at the May 3 low at 100.45, followed by the 100.00 figure.<\/p>\nAUD\/JPY Price Analysis: Technical outlook<\/h2>\n
AUD\/JPY Price Action \u2013 Daily Chart<\/h2>\n