In spite of Powell’s bullish statements, AUDJPY rises during the early stages of Thursday’s trading session at 96.3920.
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- Despite Powell’s hawkish comments, AUD/JPY moves upward in early Thursday trading.
The pair currently trades last at 96.3920.
The previous day high was 97.42 while the previous day low was 95.57. The daily 38.2% Fib levels comes at 96.28, expected to provide support. Similarly, the daily 61.8% fib level is at 96.71, expected to provide resistance.
The AUD/JPY climbs in the early Thursday Asian session after registering modest gains on Wednesday, despite market sentiment shifting sour on remarks of Fed Chair Powell, expressing that additional rate hikes are on the table. Therefore, Wall Street finished the session on a lower note, while the risk-sensitive AUD/JPY clung to its gains of 0.47%. At the time of writing, the AUD/JPY exchanges hands at 96.43.
The AUD/JPY is set for additional gains in the medium term after bouncing from support at the Tenkan Sen Line at 95.76. That helped the cross-currency pair to regain the 96.00 figure, extending its gains but capped by the last year’s September 20 high at 96.54.
If AUD/JPY would resume its uptrend, buyers must conquer 96.54. A breach of the latter will expose the 97.00 figure, closely followed by resistance at June 20 high at 97.41m, before testing the YTD high at 97.67. On the flip side, the AUD/JPY would test the 96.00 figure. Once cleared, the Tenkan Sen line, at 95.76, would be the next floor for the pair, followed by the June 20 low of 95.57. Downside risks will emerge below that area, at the 95.00 figure, before stumbling to the Kijun-Sen line at 93.96.
Technical Levels: Supports and Resistances
AUDJPY currently trading at 96.42 at the time of writing. Pair opened at 95.99 and is trading with a change of 0.45 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 96.42 |
| 1 | Today Daily Change | 0.43 |
| 2 | Today Daily Change % | 0.45 |
| 3 | Today daily open | 95.99 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 93.45, 50 SMA 91.65, 100 SMA @ 90.91 and 200 SMA @ 91.74.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 93.45 |
| 1 | Daily SMA50 | 91.65 |
| 2 | Daily SMA100 | 90.91 |
| 3 | Daily SMA200 | 91.74 |
The previous day high was 97.42 while the previous day low was 95.57. The daily 38.2% Fib levels comes at 96.28, expected to provide support. Similarly, the daily 61.8% fib level is at 96.71, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 95.23, 94.48, 93.39
- Pivot resistance is noted at 97.08, 98.18, 98.93
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 97.42 |
| Previous Daily Low | 95.57 |
| Previous Weekly High | 97.63 |
| Previous Weekly Low | 93.88 |
| Previous Monthly High | 92.44 |
| Previous Monthly Low | 89.16 |
| Daily Fibonacci 38.2% | 96.28 |
| Daily Fibonacci 61.8% | 96.71 |
| Daily Pivot Point S1 | 95.23 |
| Daily Pivot Point S2 | 94.48 |
| Daily Pivot Point S3 | 93.39 |
| Daily Pivot Point R1 | 97.08 |
| Daily Pivot Point R2 | 98.18 |
| Daily Pivot Point R3 | 98.93 |
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