#AUDJPY @ 94.6930 The is getting pushed back down into consolidation, slipping back beneath 95.00.

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• The AUD/JPY is getting pushed back down into consolidation, slipping back beneath 95.00.

The pair currently trades last at 94.6930.

The previous day high was 95.2 while the previous day low was 94.25. The daily 38.2% Fib levels comes at 94.84, expected to provide resistance. Similarly, the daily 61.8% fib level is at 94.61, expected to provide support.

The AUD/JPY is seeing downside for Friday as the Yen (JPY) catches a late bid to close out the trading week.

The Aussie (AUD) caught a mid-week bid after Australian inflation ticked higher than expected, pushing the Reserve Bank of Australia (RBA) closer towards additional rate hikes heading into the end of the year, but topside action for the AUD remains limited as the JPY finds some newfound strength.

Japanese inflation improved for October, with the annualized Tokyo Consumer Price Index (CPI) print early Friday coming in at 3.3% versus the previous month’s 2.8%, largely owing to increasing energy prices.

Tokyo CPI excluding food and energy prices declined, albeit slightly, to 3.8% from the previous period’s 3.9%, which itself was revised upwards from 3.8%.

AUD/JPY traders will be looking ahead to Monday’s Aussie and Japan data readings, with Australian Retail Sales (forecast 0.3%, previous 0.2%) early, followed later in the day by Japanese Unemployment Rate (forecast 2.6%, previous 2.7%).

Friday’s decline for the Aussie sees the AUD/JPY pushing straight back into the 50-day Simple Moving Average (SMA) as the pair struggles to find momentum in the medium term; long-term support sits at the 200-day SMA just below 93.00 while the current ceiling on any bullish moves sits at late September’s high near the 97.00 handle.

The Aussie is still up over 10% from 2023’s lows against the beleaguered Yen, but a rebounding JPY could see the AUD/JPY set for a bearish trend formation.

Technical Levels: Supports and Resistances

AUDJPY currently trading at 94.76 at the time of writing. Pair opened at 95.08 and is trading with a change of -0.34 % .

The pair is trading below its 20 Daily moving average @ 94.98, above its 50 Daily moving average @ 94.74 , below its 100 Daily moving average @ 94.87 and above its 200 Daily moving average @ 92.73

The previous day high was 95.2 while the previous day low was 94.25. The daily 38.2% Fib levels comes at 94.84, expected to provide resistance. Similarly, the daily 61.8% fib level is at 94.61, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 94.49, 93.89, 93.53
• Pivot resistance is noted at 95.44, 95.8, 96.4

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