The AUDJPY pair has moved down from 96.06 to 94.67, mainly due to central banks’ emphasis on rising inflation and a negative market sentiment.
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- AUD/JPY retraces from 96.06 to 94.67, influenced by central banks’ focus on high inflation and a sour market mood.
The pair currently trades last at 94.6600.
The previous day high was 96.08 while the previous day low was 95.3. The daily 38.2% Fib levels comes at 95.79, expected to provide resistance. Similarly, the daily 61.8% fib level is at 95.6, expected to provide resistance.
The AUD/JPY retraces from weekly highs of 96.06 extended its losses past the 95.00 figure, spurred by a sour market mood, as global central banks remain focused on tackling sticky high inflation. Hence, the pair dropped 1% or 95 pips on Thursday, and as the Asian session commences, it hovers around 94.67 flat.
The daily chart depicts the pair as neutral biased, but the AUD/JPY has fallen inside the Ichimoku Cloud (Kumo), which could open the door for further downside. The cross-currency pair first support would be the Kijun-Sen at 94.43, followed by an upslope support trendline at 94.30. Once cleared, the next support would be the Senkou Span B at 93.93, followed by the bottom of the Kumo at 93.80.
Short-term, the AUD/JPY pair is in a downtrend, below the Kumo, with price action below the Kijun and Tenkan-Sen lines, respectively. At the same time, the Chikou Span is also below the Kumo and price action, meaning the pair is bearish-biased. However, recent price action suggests an upward correction could be on the cards, with the pair set to edge towards the 50% Fibonacci retracement at 94.88. Once reached, the pair could extend its losses past the September 21 low of 94.53, followed by the 94.00 figure.
Technical Levels: Supports and Resistances
AUDJPY currently trading at 94.69 at the time of writing. Pair opened at 95.65 and is trading with a change of -1.0 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 94.69 |
| 1 | Today Daily Change | -0.96 |
| 2 | Today Daily Change % | -1.00 |
| 3 | Today daily open | 95.65 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 94.53, 50 SMA 94.37, 100 SMA @ 93.95 and 200 SMA @ 92.06.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 94.53 |
| 1 | Daily SMA50 | 94.37 |
| 2 | Daily SMA100 | 93.95 |
| 3 | Daily SMA200 | 92.06 |
The previous day high was 96.08 while the previous day low was 95.3. The daily 38.2% Fib levels comes at 95.79, expected to provide resistance. Similarly, the daily 61.8% fib level is at 95.6, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 95.27, 94.9, 94.49
- Pivot resistance is noted at 96.05, 96.46, 96.83
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 96.08 |
| Previous Daily Low | 95.30 |
| Previous Weekly High | 95.55 |
| Previous Weekly Low | 93.65 |
| Previous Monthly High | 95.81 |
| Previous Monthly Low | 92.79 |
| Daily Fibonacci 38.2% | 95.79 |
| Daily Fibonacci 61.8% | 95.60 |
| Daily Pivot Point S1 | 95.27 |
| Daily Pivot Point S2 | 94.90 |
| Daily Pivot Point S3 | 94.49 |
| Daily Pivot Point R1 | 96.05 |
| Daily Pivot Point R2 | 96.46 |
| Daily Pivot Point R3 | 96.83 |
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