The AUDJPY pair, currently trading at 96.3580, has rebounded from its initial dip but remains uncertain as it nears a nine-month peak. According to Nehcap’s perspective, it is anticipated that there will be additional upward trajectory.
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- AUD/JPY reverses early-day fall but stays dicey near nine-month high.
The pair currently trades last at 96.3580.
The previous day high was 96.73 while the previous day low was 95.12. The daily 38.2% Fib levels comes at 96.12, expected to provide support. Similarly, the daily 61.8% fib level is at 95.74, expected to provide support.
AUD/JPY jumps 40 pips to 96.70 as the Bank of Japan (BoJ) refrains from any monetary policy change on early Friday. In doing so, the cross-currency pair reverses the initial pullback from the highest levels since September 2022, before retreating to 96.55 by the press time.
BoJ keeps the short-term interest rate target at -0.1% while directing 10-year Japanese Government Bond (JGB) yields with the band of +/-0.50%, per the latest monetary policy meeting update. The Japanese central bank also tames inflation fears by saying that the Consumer Price Index (CPI) around 3.5% recently owing to pass-through effects.
It’s worth noting that the overbought RSI (14) line challenges the AUD/JPY buyers even if the pair’s successful break of a previous horizontal resistance stretched from July 2022, now immediate support, suggests further advances of the quote.
As a result, a horizontal area comprising multiple levels marked since June 2022, around 96.90-97.05, gains the market’s attention ahead of the previous yearly peak of around 98.60.
On the flip side, a daily close below the resistance-turned-support of around 95.80 could trigger a short-term AUD/JPY fall.
The same highlights the early October 2022 peak of around 94.70 and February’s top surrounding 93.00. Even so, the AUD/JPY bulls remain hopeful unless witnessing a clear break of the 200-DMA, at 91.75 by the press time.
Trend: Further upside expected
Technical Levels: Supports and Resistances
AUDJPY currently trading at 96.64 at the time of writing. Pair opened at 96.62 and is trading with a change of 0.02% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 96.64 |
| 1 | Today Daily Change | 0.02 |
| 2 | Today Daily Change % | 0.02% |
| 3 | Today daily open | 96.62 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 92.69, 50 SMA 91.15, 100 SMA @ 90.76 and 200 SMA @ 91.75.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 92.69 |
| 1 | Daily SMA50 | 91.15 |
| 2 | Daily SMA100 | 90.76 |
| 3 | Daily SMA200 | 91.75 |
The previous day high was 96.73 while the previous day low was 95.12. The daily 38.2% Fib levels comes at 96.12, expected to provide support. Similarly, the daily 61.8% fib level is at 95.74, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 95.58, 94.55, 93.97
- Pivot resistance is noted at 97.2, 97.77, 98.81
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 96.73 |
| Previous Daily Low | 95.12 |
| Previous Weekly High | 94.10 |
| Previous Weekly Low | 92.14 |
| Previous Monthly High | 92.44 |
| Previous Monthly Low | 89.16 |
| Daily Fibonacci 38.2% | 96.12 |
| Daily Fibonacci 61.8% | 95.74 |
| Daily Pivot Point S1 | 95.58 |
| Daily Pivot Point S2 | 94.55 |
| Daily Pivot Point S3 | 93.97 |
| Daily Pivot Point R1 | 97.20 |
| Daily Pivot Point R2 | 97.77 |
| Daily Pivot Point R3 | 98.81 |
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