The AUDJPY currency pair has experienced a small rebound, but it is still facing downward pressure, having incurred a weekly loss of 0.84%. It is currently trading at 96.6800.

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• AUD/JPY sees minor recovery but remains under pressure with a 0.84% weekly loss.

The pair currently trades last at 96.6800.

The previous day high was 96.47 while the previous day low was 95.78. The daily 38.2% Fib levels comes at 96.21, expected to provide support. Similarly, the daily 61.8% fib level is at 96.05, expected to provide support.

The AUD/JPY recovers some ground following Tuesday’s loss of more than 1%, posting back-to-back days of gains, though it remains at around the September 20 daily high at 96.54. As Friday’s Asian session begins, the AUD/JPY exchanges hands at 96.63, registering minimal losses of 0.05%.

The AUD/JPY is still trading with losses of 0.84% in the week but remains upward-biased as price action sits above the Ichimoku Cloud. Nevertheless, the Tenkan-Sen level, at 95.82, is closing into the candlestick, suggesting that the uptrend is losing momentum, opening the door for a pullback.

In addition, the Relative Strength Index (RSI) indicator exited from overbought territory. At the same time, the three-day Rate of Change (RoC) portrays buyers losing momentum. Hence, the AUD/JPY path of least resistance is downward in the near term.

The AUD/JPY first support would be the 96.00 figure. Break below will tumble the AUD/JPY pair toward the Tenkan-Sen Level at 95.82. The AUD/JPY next stop would be the Senkou Span A at 94.89, and the Kijun-Sen Level at 93.96.

Conversely, if AUD/JPY resumes upwards and breaks above the June 19 low of 96.73, the 97.00 figure would be up for grabs. Upside risks lie at the year-to-date (YTD) high of 97.67, ahead of challenging last year’s high at 98.59.

Technical Levels: Supports and Resistances

AUDJPY currently trading at 96.66 at the time of writing. Pair opened at 96.44 and is trading with a change of 0.23 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 93.71, 50 SMA 91.8, 100 SMA @ 90.95 and 200 SMA @ 91.74.

The previous day high was 96.47 while the previous day low was 95.78. The daily 38.2% Fib levels comes at 96.21, expected to provide support. Similarly, the daily 61.8% fib level is at 96.05, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 95.99, 95.54, 95.3
• Pivot resistance is noted at 96.68, 96.92, 97.37

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