#AUDJPY @ 91.4860 trimmed earlier gains on Tuesday, down by 0.34%, extending its weekly losses. (Pivot Orderbook analysis)

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• AUD/JPY trimmed earlier gains on Tuesday, down by 0.34%, extending its weekly losses.
• Sentiment dampened on BoE’s Governor Bailey’s commentary about UK pension funds.
• The AUD/JPY bearish flag remains in play, targeting the 200-day EMA at 90.70.

The pair currently trades last at 91.4860.

The previous day high was 92.77 while the previous day low was 91.48. The daily 38.2% Fib levels comes at 91.98, expected to provide resistance. Similarly, the daily 61.8% fib level is at 92.28, expected to provide resistance.

The AUD/JPY retraced its earlier gains and tumbled on Tuesday, as the Bank of England’s (BoE) Governor Andrew Bailey spooked investors, which dumped every asset with the “risk” word attached to it, so in the FX space high beta currencies. Therefore, the AUD/JPY dived from daily highs above 92.00 to current exchange rates. As the Asian Pacific session begins, the AUD/JPY is trading at 91.54, slightly up 0.09%, at the time of writing.

The AUD/JPY daily chart portrays the cross-currency as neutral-to-downward biased. The bearish-flag pattern broke to the downside as expected but fell short of reaching the 200-day EMA target of 90.70. Notably, the AUD/JPY was headed upwards, reaching 92.32, Tuesday’s high, in an upbeat mood, but BoE’s Bailey words turned sentiment sour. AUD/JPY key support levels lie at 91.00, followed by the 200-day EMA at 90.70, which, once cleared, could open the door towards a test of the 90.00 figure.

On the other hand, if AUD/JPY buyers reclaim the 92.00 figure, the first resistance area would be October’s 10 high at 92.76, followed by the 93.00 figure, nearby the bearish-flag bottom trendline.

Technical Levels: Supports and Resistances

AUDJPY currently trading at 91.5 at the time of writing. Pair opened at 91.81 and is trading with a change of -0.34 % .

The pair is trading below its 20 Daily moving average @ 94.41, below its 50 Daily moving average @ 94.69 , below its 100 Daily moving average @ 94.13 and above its 200 Daily moving average @ 90.67

The previous day high was 92.77 while the previous day low was 91.48. The daily 38.2% Fib levels comes at 91.98, expected to provide resistance. Similarly, the daily 61.8% fib level is at 92.28, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 91.27, 90.73, 89.98
• Pivot resistance is noted at 92.56, 93.31, 93.85

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