The AUDJPY is increasing and approaching its highest point of the week at 94.22, having risen for six straight days.
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- AUD/JPY nears weekly high at 94.22, gaining for the sixth consecutive day.
The pair currently trades last at 94.2240.
The previous day high was 94.1 while the previous day low was 93.16. The daily 38.2% Fib levels comes at 93.74, expected to provide support. Similarly, the daily 61.8% fib level is at 93.52, expected to provide support.
AUD/JPY stays on track toward its six straight days of gains as the Asian session begins. A risk-on impulse underpins the Australian Dollar (AUD), which is still gaining momentum after last week’s rate hike by the Reserve Bank of Australia (RBA). At the time of writing, the AUD/JPY trades at 94.22, nearby the weekly high of 94.41, with minuscule gains of 0.02%.
The AUD/JPY daily chart portrays the pair as upward biased, at the brisk of breaking the November 16 high at 94.65, which could open the door for further upside. That would clear the path toward a new year-to-date (YTD) high and propel the Aussie towards challenging resistance at around the 95.00 psychological price level.
Even though the Ichimoku cloud supports the uptrend thesis, the Relative Strength Index (RSI) indicator signals the pair is overbought, warranting a pullback is expected. Another factor suggests the pair could retrace the three-day Rate of Change (RoC), showing that buying pressure is easing.
If AUD/JPY drops below 94.00, the following support to be tested would be the June 12 low of 93.84. Once cleared, the AUD/JPY next stop would be December’s 13 high turned support at 93.35 before testing the psychological 93.00 mark.
Technical Levels: Supports and Resistances
AUDJPY currently trading at 94.22 at the time of writing. Pair opened at 93.98 and is trading with a change of 0.26 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 94.22 |
| 1 | Today Daily Change | 0.24 |
| 2 | Today Daily Change % | 0.26 |
| 3 | Today daily open | 93.98 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 91.92, 50 SMA 90.63, 100 SMA @ 90.64 and 200 SMA @ 91.78.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 91.92 |
| 1 | Daily SMA50 | 90.63 |
| 2 | Daily SMA100 | 90.64 |
| 3 | Daily SMA200 | 91.78 |
The previous day high was 94.1 while the previous day low was 93.16. The daily 38.2% Fib levels comes at 93.74, expected to provide support. Similarly, the daily 61.8% fib level is at 93.52, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 93.4, 92.82, 92.47
- Pivot resistance is noted at 94.33, 94.68, 95.26
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 94.10 |
| Previous Daily Low | 93.16 |
| Previous Weekly High | 94.10 |
| Previous Weekly Low | 92.14 |
| Previous Monthly High | 92.44 |
| Previous Monthly Low | 89.16 |
| Daily Fibonacci 38.2% | 93.74 |
| Daily Fibonacci 61.8% | 93.52 |
| Daily Pivot Point S1 | 93.40 |
| Daily Pivot Point S2 | 92.82 |
| Daily Pivot Point S3 | 92.47 |
| Daily Pivot Point R1 | 94.33 |
| Daily Pivot Point R2 | 94.68 |
| Daily Pivot Point R3 | 95.26 |
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