#AUDJPY @ 93.1690 forms a doji at YTD highs, signaling a possible pause in the rally. (Pivot Orderbook analysis)
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- AUD/JPY forms a doji at YTD highs, signaling a possible pause in the rally.
- Potential retracement could test the 91.89 support zone, an intersection of the 50% Fibonacci and Tenkan-Sen line.
- On the upside, surpassing the YTD high could push the pair towards 94.00, with a potential target at 95.00.
The pair currently trades last at 93.1690.
The previous day high was 93.26 while the previous day low was 92.14. The daily 38.2% Fib levels comes at 92.83, expected to provide support. Similarly, the daily 61.8% fib level is at 92.57, expected to provide support.
AUD/JPY hovers at around the 93.20 area as the Asian session begins, following Wednesday’s session, which formed a doji after reaching new year-to-date (YTD) highs. However, a daily close below the June 6 high of 93.26 suggests buyers are losing control ahead of Thursday’s session.
AUD/JPY seems to pause its rally, as a doji emerged on Wednesday after hitting a new YTD high. However, in the medium term, the AUD/JPY is still upward biased but might pull back toward the confluence of the 50% Fibonacci retracement and the Tenkan-Sen line at around 91.89. Further downside is expected, towards the next confluence, of the Kijun-Sen line and the 61.8% Fibo retracement at around 91.34/50, before resuming its uptrend.
Conversely, a bullish continuation will witness the AUD/JPY exploding past the YTD high and testing the psychological level at 94.00. A breach of the latter will expose the November 16 daily high at 94.65, ahead of gaining traction and challenging the 95.00 figure.
Technical Levels: Supports and Resistances
AUDJPY currently trading at 93.19 at the time of writing. Pair opened at 93.16 and is trading with a change of 0.03 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 93.19 |
| 1 | Today Daily Change | 0.03 |
| 2 | Today Daily Change % | 0.03 |
| 3 | Today daily open | 93.16 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 91.46, 50 SMA 90.36, 100 SMA @ 90.52 and 200 SMA @ 91.81.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 91.46 |
| 1 | Daily SMA50 | 90.36 |
| 2 | Daily SMA100 | 90.52 |
| 3 | Daily SMA200 | 91.81 |
The previous day high was 93.26 while the previous day low was 92.14. The daily 38.2% Fib levels comes at 92.83, expected to provide support. Similarly, the daily 61.8% fib level is at 92.57, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 92.44, 91.73, 91.32
- Pivot resistance is noted at 93.57, 93.98, 94.69
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 93.26 |
| Previous Daily Low | 92.14 |
| Previous Weekly High | 92.56 |
| Previous Weekly Low | 90.26 |
| Previous Monthly High | 92.44 |
| Previous Monthly Low | 89.16 |
| Daily Fibonacci 38.2% | 92.83 |
| Daily Fibonacci 61.8% | 92.57 |
| Daily Pivot Point S1 | 92.44 |
| Daily Pivot Point S2 | 91.73 |
| Daily Pivot Point S3 | 91.32 |
| Daily Pivot Point R1 | 93.57 |
| Daily Pivot Point R2 | 93.98 |
| Daily Pivot Point R3 | 94.69 |
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