AUD/JPY rebounds from daily lows, eyes 111.70 for bullish breakout
|- AUD/JPY falls 0.63% to 110.89 after rebounding from 109.53 low.
- Break above 111.70 targets 112.09 YTD high, then 112.50.
- Drop below 110.00 exposes 109.79 (20-day SMA) and 108.80 support.
The AUD/JPY trims some of its earlier but is ending the session on a normal note, down 0.63%, after bouncing off daily lows below the 111.00 figure. At the time of writing, the cross-pair trades at 110.89.
AUD/JPY Price Forecast: Technical outlook
Volatility drove price action within a wide-trading range ─of 250 pips or 2%, on Tuesday as the Middle East conflict favored a flight to safety. Hence, the Japanese Yen appreciated versus the Aussie Dollar.
Despite turning mildly bearish during the day and reaching a daily low of 109.53, the AUD/JPY pair recovered, ending past the 110.50 figure, above the February 9 daily high of 110.79.
For a bullish continuation, the pair needs to clear the previous yearly high of 111.70 ahead of challenging the current yearly high of 112.09. Once cleared the next stop would be 112.50 ahead of 113.00.
On the downside, if the AUD/JPY dives below 110.00, it opens the door to test the 20-day SMA at 109.79. A breach of the latter will expose the February 23 daily low of 108.80.
AUD/JPY Price Chart – Daily
Japanese Yen Price This week
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 1.33% | 0.50% | 1.01% | 0.24% | 0.23% | 1.14% | 1.85% | |
| EUR | -1.33% | -0.84% | -0.35% | -1.07% | -1.09% | -0.18% | 0.53% | |
| GBP | -0.50% | 0.84% | 0.29% | -0.25% | -0.28% | 0.66% | 1.39% | |
| JPY | -1.01% | 0.35% | -0.29% | -0.70% | -0.72% | 0.22% | 0.95% | |
| CAD | -0.24% | 1.07% | 0.25% | 0.70% | -0.05% | 0.93% | 1.64% | |
| AUD | -0.23% | 1.09% | 0.28% | 0.72% | 0.05% | 0.91% | 1.66% | |
| NZD | -1.14% | 0.18% | -0.66% | -0.22% | -0.93% | -0.91% | 0.74% | |
| CHF | -1.85% | -0.53% | -1.39% | -0.95% | -1.64% | -1.66% | -0.74% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.