AUD/JPY Price Analysis: Dips to three-day low, as bearish-engulfing surfaces

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  • AUD/JPY corrects from recent highs, trading down by 0.52% at 96.80, after the RBA's decision to increase interest rates.
  • The pair’s immediate support is near the 96.00 level, with subsequent levels at 95.92 (Tenkan-Sen), 95.61 (Senkou-Span A), 95.30 (Kijun-Sen), and 95.00 (Ichimoku Cloud top).
  • To reverse the bearish outlook, bulls must push the pair back above the 97.00 threshold, aiming for the recent high at 97.59 and the YTD peak at 97.67.

AUD/JPY retreats after hitting a five-month high of 97.59, though it slid toward the 96.80 area after hitting a three-day low of 96.40 late in Tuesday's session. Even though risk appetite improved, the Aussie Dollar (AUD) extended its losses against the Japanese Yen (JPY) after the Reserve Bank of Australia's (RBA's) decision to hike rates. The pair is trading at 96.80, down 0.52%.

The AUD/JPY daily chart portrays the pair as neutral to slightly downward bias, as it formed a bearish-engulfing three-candle chart pattern, which could open the door for further downside. In the event of the cross slumping below the 96.00 mark, next support is seen at the Tenkan-Sen at 95.92. A breach of the latter will expose the Senkou-Span A at 95.61, followed by the Kijun-Sen at 95.30, and the top of the Ichimoku Cloud (Kumo) at 95.00.

For a bullish resumption, AUD/JPY buyers must reclaim the 97.00 figure, followed by Tuesday’s high at 97.59, followed by the year-to-date (YTD) high at 97.67.

AUD/JPY Price Chary – Daily

AUD/JPY Technical Levels

AUD/JPY

Overview
Today last price 96.82
Today Daily Change -0.51
Today Daily Change % -0.52
Today daily open 97.33
 
Trends
Daily SMA20 95.43
Daily SMA50 95.09
Daily SMA100 94.91
Daily SMA200 92.89
 
Levels
Previous Daily High 97.51
Previous Daily Low 97.18
Previous Weekly High 97.33
Previous Weekly Low 94.74
Previous Monthly High 96.42
Previous Monthly Low 93.05
Daily Fibonacci 38.2% 97.38
Daily Fibonacci 61.8% 97.3
Daily Pivot Point S1 97.17
Daily Pivot Point S2 97
Daily Pivot Point S3 96.83
Daily Pivot Point R1 97.5
Daily Pivot Point R2 97.67
Daily Pivot Point R3 97.84

 

 

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