The AUD/JPY currency pair increases to 95.64, reaching its highest point in around six weeks, thanks to the positive impact of the Reserve Bank of Australia’s recent monetary policy minutes.
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- AUD/JPY rallies to 95.64, its highest level in one-and-a-half months, buoyed by RBA’s latest monetary policy minutes.
The pair currently trades last at 95.3970.
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 support.
The AUD/JPY printed solid gains on Tuesday, and as Wednesday’s Asian session begins, the cross-currency pair hovers around 95.39 after touching a new one-and-a-half-month high at 95.64.
The AUD/JPY daily chart portrays the pair as neutral to upward biased. Even though it formed a ‘bearish-harami’ until yesterday, the cross-currency pair extended its gains due to fundamental news, such as the latest Reserve Bank of Australia (RBA) monetary policy minutes. Discussions amongst the RBA members kept the door open for additional tightening and sparked Tuesday’s rally.
Hence, the AUD/JPY extended its gains and is set to test the July 25 swing high at 95.85. A breach of the latter would expose the 96.00 mark, followed by last year’s high at 97.67. Conversely, if the cross retreats below 95.00, the next support would emerge at the top of the Ichimoku Cloud (Kumo) at 94.74, followed by the Tenkan-Sen line at 94.60, and followed by the Kijun-Sen at 94.21.
Technical Levels: Supports and Resistances
AUDJPY currently trading at 95.39 at the time of writing. Pair opened at 95.02 and is trading with a change of 0.39 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 95.39 |
| 1 | Today Daily Change | 0.37 |
| 2 | Today Daily Change % | 0.39 |
| 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 support.
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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