#AUDJPY @ 94.5880 -imp levels: extended its rally to four straight days, gaining 0.28% on Tuesday.

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• AUD/JPY extended its rally to four straight days, gaining 0.28% on Tuesday.
• The daily chart illustrates the cross-currency pair seesawing in a 150 pip range.
• The AUD/JPY 4-hour chart shows a rising-wedge emerging, which targets the 93.00 figure.

The pair currently trades last at 94.5880.

The previous day high was 94.55 while the previous day low was 93.83. The daily 38.2% Fib levels comes at 94.28, expected to provide support. Similarly, the daily 61.8% fib level is at 94.11, expected to provide support.

The AUD/JPY edges lightly lower as the Asian Pacific session begins, but on Monday, it extended its gains for three consecutive days, finishing the session around 94.60, up by 0.47%. At the time of writing, the AUD/JPY is trading at 94.53, below its opening price by 0.08%.

In the last five days, the AUD/JPY has been consolidated within the 93-00-94-50 area, unable to break the top/bottom of the range. Worth noting that from a daily chart perspective, the AUD/JPY is neutral-to-upward bias but unless buyers reclaim the 95.10 August 12 daily high, the cross-currency pair will remain to seesaw amidst a lack of catalyst.

With AUD/JPY buyers reclaiming the abovementioned scenario, their first resistance would be the July 27 high at 95.67, followed by the YTD high at 96.88. Failure to do so, the AUD/JPY might fall towards the bottom of the range at 93.00.

Zooming into the 4-hour chart, the AUD/JPY formed a rising-wedge that targets the 93.23 mark. Further cementing the case, it’s that the RSI crossed below its 7-SMA, signaling that sellers are gathering momentum, despite being above the 50-midline, at 58.46. Therefore, the AUD/JPY first support would be the S1 daily pivot at 94.05. Break below will expose the S2 and S3 pivot points, at 93.57 and 93.17.

Technical Levels: Supports and Resistances

AUDJPY currently trading at 94.58 at the time of writing. Pair opened at 94.16 and is trading with a change of 0.47 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 93.88, 50 SMA 93.72, 100 SMA @ 93.06 and 200 SMA @ 88.31.

The previous day high was 94.55 while the previous day low was 93.83. The daily 38.2% Fib levels comes at 94.28, expected to provide support. Similarly, the daily 61.8% fib level is at 94.11, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 93.81, 93.46, 93.09
• Pivot resistance is noted at 94.53, 94.9, 95.25

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