On Thursday, the AUDJPY pair has been experiencing a consecutive four-day period of trading in the positive zone, with its current value at 94.7630.

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

• AUD/JPY trades in positive territory for four straight days on Thursday.

The pair currently trades last at 94.7630.

The previous day high was 94.83 while the previous day low was 94.18. The daily 38.2% Fib levels comes at 94.58, expected to provide support. Similarly, the daily 61.8% fib level is at 94.43, expected to provide support.

The AUD/JPY cross gains momentum for the fourth consecutive day during the Asian session on Thursday. The cross currently trades around 94.70, up 0.01% on the day. The Aussie attracts some buyers following the release of Employment data. However, markets anticipate that the Reserve Bank of Australia (RBA) might have already ended its rate-hiking cycle, which could cap the upside of the AUD/JPY.

The Australian Bureau of Statistics (ABS) revealed on Thursday that Australia’s Unemployment Rate came in at 3.7% in August compared to 3.7% in the previous reading and was in line with the expectation. Meanwhile, the number of employed people rose to 64.9K in August, compared to a market consensus of 23K and a loss of 14.6K in the previous month.

From the technical outlook, AUD/JPY trades within an ascending trend channel since September 7 on the one-hour chart. That said, the path of least resistance for the AUD/JPY is to the upside as the cross holds above the 50- and 100-hour Exponential Moving Averages (EMAs).

The immediate resistance level for AUD/JPY emerges near the upper boundary of an ascending trend channel at 94.82. Any follow-through buying above the latter will see a rally to a confluence of a psychological round mark and a high of August 30 at 95.00. The next upside stop to watch is 95.40 (high of July 14) en route to 95.85 (high of July 31).

Looking at the downside, the cross will meet the initial support level at 94.40 (the 100-hour EMA). The next downside filter appears at 94.30 (the lower limit of the descending trend channel). A break below the latter will see a drop to 94.00 (a low of September 5) en route to 93.50 (a low of August 22) and finally near a psychological figure at 93.00.

It’s worth noting that the Relative Strength Index (RSI) holds above 50 in the bullish territory, which support the buyers for now.

Technical Levels: Supports and Resistances

AUDJPY currently trading at 94.69 at the time of writing. Pair opened at 94.69 and is trading with a change of 0.0 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 94.12, 50 SMA 94.3, 100 SMA @ 93.7 and 200 SMA @ 92.0.

The previous day high was 94.83 while the previous day low was 94.18. The daily 38.2% Fib levels comes at 94.58, expected to provide support. Similarly, the daily 61.8% fib level is at 94.43, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 94.31, 93.92, 93.66
• Pivot resistance is noted at 94.96, 95.22, 95.6

[/s2If]
Download Nehcap EAWe have two EAs that are operational on our LIVE accounts.

1. EA-FIX: Check out the details here. Download EA-FIX . EA-FIX is a non-grid HFT scalper.
2. EA-GROWTH: High quality low dd EA using trend grids. Download EA_GROWTHJoin Our Telegram Group

Share this:

• Facebook
• X

Like this:

Like Loading...