After the release of the RBA Meeting Minutes, the #AUDJPY pair remains stable around 94.98, displaying a sideways movement, just below the level of 95.0090.
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- AUD/JPY trades sideways near 94.98 following the RBA Meeting Minutes.
The pair currently trades last at 95.0090.
The previous day high was 95.26 while the previous day low was 94.79. The daily 38.2% Fib levels comes at 94.97, expected to provide support. Similarly, the daily 61.8% fib level is at 95.08, expected to provide resistance.
The AUD/JPY cross remains confined around 94.95-95.20 in a narrow trading band during the Asian trading hours on Tuesday. The cross currently trades near 94.98, losing 0.03% on the day.
On Tuesday, the release of the Minutes from the Reserve Bank of Australia’s (RBA) September monetary policy meeting revealed that additional tightening may be necessary if inflation proves more persistent than anticipated. However, the case for maintaining the status quo was stronger, and recent data have not materially altered the economic outlook.
According to the four-hour chart, the path of least resistance for the AUD/JPY is to the upside as the cross holds above the 50- and 100-day Exponential Moving Averages (EMAs). Meanwhile, the Relative Strength Index (RSI) holds above 50 in the bullish territory, which supports the buyers for now.
Looking at the upside, the immediate resistance level for AUD/JPY emerges near the upper boundary of the Bollinger Band at 95.48. Any follow-through buying above the latter will see a rally to 95.78 (a high of July 21), followed by a high of July 4 at 96.85. The next barrier to watch is a Year-To-Date (YTD) high of 97.62. en route to 98.00 (a psychological round mark).
On the flip side, the cross will meet the initial support level near the 50-day EMA at 94.72. The next downside filter appears at 94.65 (the lower limit of the Bollinger Band) en route to 94.50 (the 100-hour EMA). A break below the latter will see a drop to a psychological round figure at 94.00.
Technical Levels: Supports and Resistances
AUDJPY currently trading at 95.0 at the time of writing. Pair opened at 95.02 and is trading with a change of -0.02 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 95.00 |
| 1 | Today Daily Change | -0.02 |
| 2 | Today Daily Change % | -0.02 |
| 3 | Today daily open | 95.02 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 94.35, 50 SMA 94.31, 100 SMA @ 93.85 and 200 SMA @ 92.04.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 94.35 |
| 1 | Daily SMA50 | 94.31 |
| 2 | Daily SMA100 | 93.85 |
| 3 | Daily SMA200 | 92.04 |
The previous day high was 95.26 while the previous day low was 94.79. The daily 38.2% Fib levels comes at 94.97, expected to provide support. Similarly, the daily 61.8% fib level is at 95.08, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 94.79, 94.55, 94.32
- Pivot resistance is noted at 95.25, 95.49, 95.72
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 95.26 |
| Previous Daily Low | 94.79 |
| Previous Weekly High | 95.55 |
| Previous Weekly Low | 93.65 |
| Previous Monthly High | 95.81 |
| Previous Monthly Low | 92.79 |
| Daily Fibonacci 38.2% | 94.97 |
| Daily Fibonacci 61.8% | 95.08 |
| Daily Pivot Point S1 | 94.79 |
| Daily Pivot Point S2 | 94.55 |
| Daily Pivot Point S3 | 94.32 |
| Daily Pivot Point R1 | 95.25 |
| Daily Pivot Point R2 | 95.49 |
| Daily Pivot Point R3 | 95.72 |
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