On Friday, the AUDJPY pair was trading at 95.2880 and continued to remain in a positive position for the sixth consecutive day.

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

• AUD/JPY trades in positive territory for the sixth straight day on Friday.

The pair currently trades last at 95.2880.

The previous day high was 95.05 while the previous day low was 94.5. The daily 38.2% Fib levels comes at 94.84, expected to provide support. Similarly, the daily 61.8% fib level is at 94.71, expected to provide support.

The AUD/JPY cross extends its upside for the sixth consecutive day during the Asian session on Friday. The cross trades around 95.31, gaining 0.36% on the day. The stronger-than-expected Chinese data boost antipodean currencies against its rivals.

On Friday, the National Bureau of Statistics (NBS) reported that Chinese Retail Sales for August improved 4.6% YoY compared to the previous reading of 2.5%, exceeding market expectations. In the meantime, the nation’s Industrial Production rose to 4.5% in August from 3.7% in July, above market expectations of 3.9%. The China-proxy Australian Dollar (AUD) attracts some buyers in response to the data and acts as a tailwind for the AUD/JPY cross.

According to the daily chart, the path of least resistance for the AUD/JPY is to the upside as the cross holds above the 50- and 100-day Exponential Moving Averages (EMAs). Meanwhile, the Relative Strength Index (RSI) holds above 50 in the bullish territory, which supports the buyers for now.

Looking at the upside, the immediate resistance level for AUD/JPY emerges at 95.78 (a high of July 21). Any follow-through buying above the latter will see a rally to a high of July 4 at 96.85. The next upside stop to watch is a Year-To-Date (YTD) high of 97.62. en route to 98.00 (a psychological round mark) and finally at 98.43 (a high of Sep 12, 2022).

On the flip side, the cross will meet the initial support level near the 50-day EMA at 94.23. The next downside filter appears at 93.67, representing the 100-day EMA. A break below the latter will see a drop to the 93.00-93.10 region (a low of August 4 and round figure).

Technical Levels: Supports and Resistances

AUDJPY currently trading at 95.35 at the time of writing. Pair opened at 94.98 and is trading with a change of 0.39 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 94.19, 50 SMA 94.29, 100 SMA @ 93.76 and 200 SMA @ 92.02.

The previous day high was 95.05 while the previous day low was 94.5. The daily 38.2% Fib levels comes at 94.84, expected to provide support. Similarly, the daily 61.8% fib level is at 94.71, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 94.64, 94.3, 94.1
• Pivot resistance is noted at 95.18, 95.39, 95.73

[/s2If]
Download Nehcap EAWe have two EAs that are operational on our LIVE accounts.

1. EA-FIX: Check out the details here. Download EA-FIX . EA-FIX is a non-grid HFT scalper.
2. EA-GROWTH: High quality low dd EA using trend grids. Download EA_GROWTHJoin Our Telegram Group

Share this:

• Facebook
• X

Like this:

Like Loading...