The AUDJPY currency pair has dropped to a new intraday low of 94.4760, breaking a three-day upward trend and reversing from a two-week high. According to the analyst Nehcap, a continued decline is anticipated.
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- AUD/JPY takes offers to refresh intraday low, snaps three-day uptrend while reversing from two-week high.
The pair currently trades last at 94.4760.
The previous day high was 94.6 while the previous day low was 94.05. The daily 38.2% Fib levels comes at 94.39, expected to provide support. Similarly, the daily 61.8% fib level is at 94.26, expected to provide support.
AUD/JPY takes a U-turn from a two-week high while declining to 94.15 on the downbeat Australian inflation data amid early Wednesday. In doing so, the cross-currency pair also justifies disappointing housing market numbers from the Pacific major while reversing from the 50-DMA and a downward-sloping resistance line from June 19.
Australia’s Monthly Consumer Price Index (CPI) flashed the 4.9% YoY figures for July versus 5.2% expected and 5.4% prior while the Building Permits slumps with -8.1% figure for the said month compared to -0.8% market forecasts and -7.7% figures reported in June.
Given the sluggish oscillators and the recent hawkish concerns about the Bank of Japan (BoJ), the AUD/JPY may extend the latest pullback towards the 94.00 round figure. However, the one-week-old support line near 93.90 may prod the bears afterward.
In a case where the AUD/JPY pair breaks the immediate support, it can easily slump to the 100-DMA level of around 93.25.
Meanwhile, the aforementioned resistance line and the 50-DMA, respectively near 94.50 and 94.70, guard the immediate recovery of the AUD/JPY pair.
However, the pair sellers remain hopeful unless they witness a clear upside break of the previous support line stretched from late March, close to 95.80 at the latest.
Trend: Further downside expected
Technical Levels: Supports and Resistances
AUDJPY currently trading at 94.36 at the time of writing. Pair opened at 94.53 and is trading with a change of -0.18% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 94.36 |
| 1 | Today Daily Change | -0.17 |
| 2 | Today Daily Change % | -0.18% |
| 3 | Today daily open | 94.53 |
The pair is trading above its 20 Daily moving average @ 93.82, below its 50 Daily moving average @ 94.7 , above its 100 Daily moving average @ 93.18 and above its 200 Daily moving average @ 91.91
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 93.82 |
| 1 | Daily SMA50 | 94.70 |
| 2 | Daily SMA100 | 93.18 |
| 3 | Daily SMA200 | 91.91 |
The previous day high was 94.6 while the previous day low was 94.05. The daily 38.2% Fib levels comes at 94.39, expected to provide support. Similarly, the daily 61.8% fib level is at 94.26, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 94.18, 93.84, 93.63
- Pivot resistance is noted at 94.74, 94.94, 95.29
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 94.60 |
| Previous Daily Low | 94.05 |
| Previous Weekly High | 94.18 |
| Previous Weekly Low | 92.83 |
| Previous Monthly High | 96.84 |
| Previous Monthly Low | 91.79 |
| Daily Fibonacci 38.2% | 94.39 |
| Daily Fibonacci 61.8% | 94.26 |
| Daily Pivot Point S1 | 94.18 |
| Daily Pivot Point S2 | 93.84 |
| Daily Pivot Point S3 | 93.63 |
| Daily Pivot Point R1 | 94.74 |
| Daily Pivot Point R2 | 94.94 |
| Daily Pivot Point R3 | 95.29 |
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