AUD/JPY Price Analysis: Slips below the 100-day SMA, outlook turns negative

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  • The AUD/JPY is experiencing a downward shift at 96.18, seeing a 0.23% loss.
  • Indicators on the daily chart show a negative outlook as the cross now trades below the 20 and 100-day SMA.
  • Four-hour chart indicators are consolidating after hitting oversold conditions.

On Thursday's session, the AUD/JPY experienced a downturn, hovering at 96.18 after hitting a its lowest level since mid December near 95.50. The daily chart conveys a bearish hue with the sellers gaining substantial ground. Meanwhile, the four-hour chart indicators seem to have enter in a consolidation phase, following a dip into oversold territories.

In the daily chart perspective, the leading indicators signal an inclined selling momentum. The Relative Strength Index (RSI) is charting a downward trajectory indicating bearish strength, especially within a negative zone. This is echoed by the Moving Average Convergence Divergence (MACD) which prints a surge in red bars, indicating increasing bearish pressure. Furthermore, the cross fell below the 100-day Simple Moving Average (SMA), a strong resistance which strengthens the case for the sellers .

Inspecting the shorter-term dynamics from the four-hour chart, it appears the bearish tendency seems to be leveling off. Indicators have moved to a stable phase after previously registering oversold conditions. The RSI in particular, maintains a flat formation in a negative territory, indicating a momentary pause in downward momentum. Additionally, the MACD also show flat red bars indicating growth in short-term selling pressure, though at a decreasing rate.

AUD/JPY daily chart

AUD/JPY levels to watch

AUD/JPY

Overview
Today last price 96.12
Today Daily Change -0.43
Today Daily Change % -0.45
Today daily open 96.55
 
Trends
Daily SMA20 97.18
Daily SMA50 96.86
Daily SMA100 96.32
Daily SMA200 95.01
 
Levels
Previous Daily High 97.48
Previous Daily Low 96.45
Previous Weekly High 97.88
Previous Weekly Low 96.92
Previous Monthly High 97.88
Previous Monthly Low 95.84
Daily Fibonacci 38.2% 96.84
Daily Fibonacci 61.8% 97.09
Daily Pivot Point S1 96.17
Daily Pivot Point S2 95.79
Daily Pivot Point S3 95.13
Daily Pivot Point R1 97.2
Daily Pivot Point R2 97.86
Daily Pivot Point R3 98.24

 

 

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