#AUDJPY @ 92.1900 Risk aversion weighed on the Australian Dollar, bolstering the safe-haven status of the Japanese Yen. (Pivot Orderbook analysis)

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• Risk aversion weighed on the Australian Dollar, bolstering the safe-haven status of the Japanese Yen.
• AUD/JPY Price Analysis: Break below the 200-day EMA to exacerbate a fall towards 90.00.

The pair currently trades last at 92.1900.

The previous day high was 93.85 while the previous day low was 92.57. The daily 38.2% Fib levels comes at 93.36, expected to provide resistance. Similarly, the daily 61.8% fib level is at 93.06, expected to provide resistance.

The Australian Dollar (AUD) losses ground against the Japanese Yen (JPY) amid a risk-off impulse as the prospects for a recession in the United States (US) increased, blamed on a worst-than-expected US ISM PMI, and flashed manufacturing activity is deteriorating. At the time of writing, the AUD/JPY is trading at 92.16.

The AUD/JPY daily chart portrays the pair trading within a descending channel, with the 20, 50, and 100-day Exponential Moving Averages (EMAs) sitting above the exchange rate, further confirming the downtrend. Additionally, the AUD/JPY Thursday close below the former weekly low of 92.14, has paved the way for additional losses.

Oscillators with the Relative Strength Index (RSI) at bearish territory, and the 9-day Rate of Change (RoC) aiming downwards, suggests bears are gathering momentum. Therefore, the AUD/JPY path of least resistance is downwards.

The AUD/JPY key support levels are the 200-day EMA at 91.99, followed by the October 13 swing low of 90.83, followed by the August 2 pivot low of 90.52, ahead of the 90.00 figure.

As an alternate scenario, the AUD/JPY first resistance would be the 93.00 figure. Break above will open the AUD/JPY path to the confluence of the 20 and 100-day EMA at 93.40/60, ahead of the 50-day EMA at 93.78

Technical Levels: Supports and Resistances

AUDJPY currently trading at 92.14 at the time of writing. Pair opened at 93.74 and is trading with a change of -1.71 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 93.78, 50 SMA 93.71, 100 SMA @ 94.32 and 200 SMA @ 92.77.

The previous day high was 93.85 while the previous day low was 92.57. The daily 38.2% Fib levels comes at 93.36, expected to provide resistance. Similarly, the daily 61.8% fib level is at 93.06, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 92.92, 92.11, 91.64
• Pivot resistance is noted at 94.2, 94.67, 95.48

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