Friday’s bullish close looking for a rebound into 98.00

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<li><strong>The AUD/JPY saw a late break higher in Friday&#8217;s broad-market sentiment recovery.</strong></li>
<li><strong>The Aussie is catching a bounce from the 200-hour SMA and a rising trendline.</strong></li>
<li><strong>The technicals are leaning bullish with more upside on the cards, but headwinds remain.</strong></li>
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<p>The AUD/JPY snuck over the 97.50 level just ahead of the Friday closing bell, trying to claw back some of the midweek&#8217;s losses after the pair tumbled from a Wednesday peak of 98.66.</p>
<p>The AUD/JPY closed out the trading week with some gains, up nearly 1.2% from Monday&#8217;s opening bids near 96.40, but the back half of the week was marred by a 1.75% decline that only saw a minor paring back in late Friday trading.</p>
<p>With the Aussie (AUD) bouncing off a technical confluence of the 200-hour Simple Moving Average (SMA) and a rising trendline drawn from late October&#8217;s swing low into 94.25, the pair is set for a bullish continuation as long as broad-market fundamentals keep <a href="https://www.fxstreet.com/technical-analysis/sentiment/risk-appetite">risk appetite</a> on the high side.</p>
<p>Daily candlesticks are flashing warning signs that the current bullish push could be running out of gas.</p>
<p>The AUD/JPY is at risk of getting pulled back towards the 50-day SMA near 95.50, and long-term technical support is far below current price action at the 200-day SMA rising from 93.00.</p>
<p>November&#8217;s rise out of October&#8217;s consolidation phase could face a near-term bearish breakdown, with the last swing low into the 96.00 handle acting as the immediate support level for bears to beat.</p>
<h2>AUD/JPY Hourly Chart</h2>
<p><img decoding="async" alt="" src="https://editorial.fxstreet.com/miscelaneous/AUD_JPYH-638358548371335323.png" style="width: 898px; height: 697px;" /></p>
<h2>AUD/JPY Daily Chart</h2>
<p><img decoding="async" alt="" src="https://editorial.fxstreet.com/miscelaneous/AUD_JPY-638358547667621028.png" style="width: 898px; height: 697px;" /></p>
<h2>AUD/JPY Technical Levels</h2>
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<br /><a href="https://www.fxstreet.com/news/aud-jpy-price-analysis-fridays-bullish-close-looking-for-a-rebound-into-9800-202311172154">Source link </a></p><p>The post <a href="https://forextraderhub.com/fridays-bullish-close-looking-for-a-rebound-into-98-00.html">Friday’s bullish close looking for a rebound into 98.00</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>