The AUDJPY currency pair is moving up and down near the 94.50 level, suggesting that there is no significant event or factor prompting a significant upward or downward movement.

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• AUD/JPY fluctuates around the 94.50 area, indicating a lack of a strong catalyst for a breakout.

The pair currently trades last at 94.5190.

The previous day high was 94.78 while the previous day low was 93.78. The daily 38.2% Fib levels comes at 94.4, expected to provide support. Similarly, the daily 61.8% fib level is at 94.16, expected to provide support.

AUD/JPY hovers around the 94.50 area for the fifth straight day, fluctuating above/below the latter amidst the lack of a strong catalyst that would trigger a breakout. As the Asian session begins, the AUD/JPY exchanges hand at 94.51.

The AUD/JPY daily chart portrays the pair as neutral to bullish biased. Still, it could resume downwards as a descending symmetrical triangle has formed nearby the Ichimoku Cloud (Kumo). which could open the door for further downside. If the AUD/JPY breaks downwards, as measured by triangle patterns, the minimum objective would be the 92.00 figure, though, on its way south, the cross-currency pair must reclaim key support levels.

The AUD/JPY first support would be the Tenkan-Sen line at 94.35, followed by the 94.00 figure. A breach of the latter will expose the top of the Kumo at around 93.65/85, followed by the December 13 high at 93.52. With an AUD/JPY further extension downwards, the next demand area would emerge at the May 19 daily high at 92.35 before challenging the 92.00 figure.

Conversely, if the AUD/JPy breaks to the upside, the first supply area will emerge at the Kijun-Sen at 95.45, exposing the 95.00 psychological level once cleared. Following a break of that level, the AUD/JPY would have a clear path to rally towards the 96.00 figure before testing the July 4 daily high at 96.83.

Technical Levels: Supports and Resistances

AUDJPY currently trading at 94.51 at the time of writing. Pair opened at 94.56 and is trading with a change of -0.05 % .

The pair is trading below its 20 Daily moving average @ 95.5, above its 50 Daily moving average @ 93.83 , above its 100 Daily moving average @ 91.65 and above its 200 Daily moving average @ 91.88

The previous day high was 94.78 while the previous day low was 93.78. The daily 38.2% Fib levels comes at 94.4, expected to provide support. Similarly, the daily 61.8% fib level is at 94.16, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 93.96, 93.37, 92.96
• Pivot resistance is noted at 94.97, 95.38, 95.98

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