The AUDJPY currency pair at a rate of 95.5320 has reversed its downward trend after two consecutive days of gains. Analysts predict that there will be more positive movement in the future.
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- AUD/JPY pushes back bearish bias after snapping two-day winning streak the previous day.
The pair currently trades last at 95.5320.
The previous day high was 95.53 while the previous day low was 94.88. The daily 38.2% Fib levels comes at 95.12, expected to provide support. Similarly, the daily 61.8% fib level is at 95.28, expected to provide support.
AUD/JPY clings to mild gains above 95.00 as it cheers China-linked risk-on mood during early Tuesday. In doing so, the cross-currency pair defends the previous day’s rebound from a convergence of the 50 and 100 Exponential Moving Average (EMA), as well as a two-week-long rising trend line.
Also read: USD/CNH slides to 7.1500 as PBoC defends Yuan, China stimulus loom
Apart from that, the upbeat RSI (14) line, not overbought, also underpins bullish bias about the AUD/JPY pair.
However, a downward-sloping resistance line from June 18, close to 95.70 at the latest, seems a strong hurdle for the bulls to cross for conviction.
Following that, the monthly high surrounding 96.85 and the yearly peak marked in June surrounding 97.70 will be in the spotlight.
In a case where the AUD/JPY remains firmer past 97.70, the previous yearly top of around 98.60 and the 100.00 psychological magnet could lure the bulls.
Meanwhile, a downside break of the 95.00 support confluence comprising the aforementioned key EMAs and the trend line could drag the quote toward the 50% Fibonacci retracement of the May-June upside, close to 93.95.
However, the monthly low and the 61.8% Fibonacci retracement, respectively near 93.30 and 93.10, adjacent to the 93.00 round figure, will test the AUD/JPY bears afterward.
Trend: Further upside expected
Technical Levels: Supports and Resistances
AUDJPY currently trading at 95.38 at the time of writing. Pair opened at 95.34 and is trading with a change of 0.04% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 95.38 |
| 1 | Today Daily Change | 0.04 |
| 2 | Today Daily Change % | 0.04% |
| 3 | Today daily open | 95.34 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 95.27, 50 SMA 94.18, 100 SMA @ 91.78 and 200 SMA @ 91.93.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 95.27 |
| 1 | Daily SMA50 | 94.18 |
| 2 | Daily SMA100 | 91.78 |
| 3 | Daily SMA200 | 91.93 |
The previous day high was 95.53 while the previous day low was 94.88. The daily 38.2% Fib levels comes at 95.12, expected to provide support. Similarly, the daily 61.8% fib level is at 95.28, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 94.97, 94.6, 94.32
- Pivot resistance is noted at 95.62, 95.9, 96.28
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 95.53 |
| Previous Daily Low | 94.88 |
| Previous Weekly High | 95.79 |
| Previous Weekly Low | 93.78 |
| Previous Monthly High | 97.68 |
| Previous Monthly Low | 90.30 |
| Daily Fibonacci 38.2% | 95.12 |
| Daily Fibonacci 61.8% | 95.28 |
| Daily Pivot Point S1 | 94.97 |
| Daily Pivot Point S2 | 94.60 |
| Daily Pivot Point S3 | 94.32 |
| Daily Pivot Point R1 | 95.62 |
| Daily Pivot Point R2 | 95.90 |
| Daily Pivot Point R3 | 96.28 |
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