#AUDJPY @ 92.8790 climbs above the 20-day EMA, eyeing a break of 93.00. (Pivot Orderbook analysis)
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- AUD/JPY climbs above the 20-day EMA, eyeing a break of 93.00.
- Double bottom in the daily chart targets a test of the YTD high around 98.60.
The pair currently trades last at 92.8790.
The previous day high was 92.9 while the previous day low was 91.84. The daily 38.2% Fib levels comes at 92.5, expected to provide support. Similarly, the daily 61.8% fib level is at 92.25, expected to provide support.
The AUD/JPY prolonged its gains to seven straight days amidst a risk-on impulse that benefitted high-beta currencies, while safe-haven ones remain downward pressured, except for the US Dollar (USD), bolstered by a looming US CPI report. At the time of writing, the AUD/JPY is trading at 92.81.
From a daily chart perspective, the cross-currency pair is neutral to upward biased, testing the 20-day Exponential Moving Average (EMA) at around 92.86. After bottoming on December 6 to its monthly lows of 91.08, it formed a double bottom, which would be confirmed, once the AUD/JPY clears the October 21 swing high of 95.74.
If that scenario plays out, the AUD/JPY following resistance would be the September 20 high of 96.54, followed by the YTD high at 98.60.
Traders should be aware that the Relative Strength Index (RSI) is in bearish territory and paused its uptrend while the Rate of Change (RoC) is about crossing above 0, meaning that buying pressure would be building in the near term.
As an alternate scenario, the AUD/JPY first support would be the 200-day Exponential Moving Average (EMA) at 92.00. Once cleared, the next support would be December’s 5 swing low of 91.08, followed by the August 2 pivot low at 90.83.
Technical Levels: Supports and Resistances
AUDJPY currently trading at 92.82 at the time of writing. Pair opened at 92.88 and is trading with a change of -0.06 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 92.82 |
| 1 | Today Daily Change | -0.06 |
| 2 | Today Daily Change % | -0.06 |
| 3 | Today daily open | 92.88 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 93.06, 50 SMA 93.48, 100 SMA @ 94.14 and 200 SMA @ 93.06.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 93.06 |
| 1 | Daily SMA50 | 93.48 |
| 2 | Daily SMA100 | 94.14 |
| 3 | Daily SMA200 | 93.06 |
The previous day high was 92.9 while the previous day low was 91.84. The daily 38.2% Fib levels comes at 92.5, expected to provide support. Similarly, the daily 61.8% fib level is at 92.25, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 92.18, 91.48, 91.12
- Pivot resistance is noted at 93.24, 93.6, 94.3
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 92.90 |
| Previous Daily Low | 91.84 |
| Previous Weekly High | 92.90 |
| Previous Weekly Low | 91.14 |
| Previous Monthly High | 95.56 |
| Previous Monthly Low | 92.15 |
| Daily Fibonacci 38.2% | 92.50 |
| Daily Fibonacci 61.8% | 92.25 |
| Daily Pivot Point S1 | 92.18 |
| Daily Pivot Point S2 | 91.48 |
| Daily Pivot Point S3 | 91.12 |
| Daily Pivot Point R1 | 93.24 |
| Daily Pivot Point R2 | 93.60 |
| Daily Pivot Point R3 | 94.30 |
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