#AUDJPY @ 90.9930 prints mild gains to snap two-week downtrend., @nehcap view: Further upside expected (Pivot Orderbook analysis)

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• AUD/JPY prints mild gains to snap two-week downtrend.
• Sustained trading beyond 200-SMA, existence of bullish triangle joins steady RSI to favor AUD/JPY bulls.
• Sellers need validation from 90.00 to retake control.

The pair currently trades last at 90.9930.

The previous day high was 91.47 while the previous day low was 90.24. The daily 38.2% Fib levels comes at 90.71, expected to provide support. Similarly, the daily 61.8% fib level is at 91.0, expected to provide resistance.

AUD/JPY clings to mild gains around 91.00 as global markets remain dicey during early Monday. In doing so, the cross-currency pair seesaws inside a weekly bullish triangle while floating above the 200-SMA.

It’s worth noting that the steady RSI joins the quote’s sustained trading above the 200-SMA to keep AUD/JPY buyers hopeful.

Even so, a clear upside break of the weekly bullish triangle, currently between 91.30 and 90.20, becomes necessary for the AUD/JPY buyers to keep the reins. However, a downward-sloping resistance line from January 26, 2023, close to 91.40 at the latest, challenges the AUD/JPY upside.

In a case where the cross-currency pair remains firmer past 91.40, the odds of witnessing a run-up toward the previous monthly high near 92.80 can’t be ruled out. That said, the current monthly peak of 91.95 may act as an intermediate halt during the run-up.

Alternatively, the 200-SMA level surrounding 90.70 restricts the immediate downside of the risk-barometer AUD/JPY pair.

Following that, the aforementioned weekly triangle’s lower line could challenge the AUD/JPY bears around 90.20.

Adding to the downside filters is the 90.00 psychological magnet, a break of which could drag the quote toward the late January lows near 88.10.

Overall, AUD/JPY remains on the bull’s radar unless breaking the 90.00 round figure.

Trend: Further upside expected

Technical Levels: Supports and Resistances

AUDJPY currently trading at 90.9 at the time of writing. Pair opened at 90.93 and is trading with a change of -0.03% % .

The pair is trading below its 20 Daily moving average @ 91.07, above its 50 Daily moving average @ 90.82 , below its 100 Daily moving average @ 92.22 and below its 200 Daily moving average @ 93.0

The previous day high was 91.47 while the previous day low was 90.24. The daily 38.2% Fib levels comes at 90.71, expected to provide support. Similarly, the daily 61.8% fib level is at 91.0, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 90.29, 89.64, 89.05
• Pivot resistance is noted at 91.52, 92.12, 92.76

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