TRENDING:

GBP/USD

XAU/USD

AUD/JPY falls 0.6% as Yen rebounds, slips below 95.00

The AUD/JPY is getting pushed back down into consolidation, slipping back beneath 95.00.
The Yen is seeing a resurgence across the board on newfound strength.
The Aussie is seeing recent gains get pared back heading into the end of the week.

Joshua Gibson FXStreet

The AUD/JPY is seeing downside for Friday as the Yen (JPY) catches a late bid to close out the trading week.

The Aussie (AUD) caught a mid-week bid after Australian inflation ticked higher than expected, pushing the Reserve Bank of Australia (RBA) closer towards additional rate hikes heading into the end of the year, but topside action for the AUD remains limited as the JPY finds some newfound strength.

Japanese inflation improved for October, with the annualized Tokyo Consumer Price Index (CPI) print early Friday coming in at 3.3% versus the previous month's 2.8%, largely owing to increasing energy prices.

Tokyo CPI excluding food and energy prices declined, albeit slightly, to 3.8% from the previous period's 3.9%, which itself was revised upwards from 3.8%.

AUD/JPY traders will be looking ahead to Monday's Aussie and Japan data readings, with Australian Retail Sales (forecast 0.3%, previous 0.2%) early, followed later in the day by Japanese Unemployment Rate (forecast 2.6%, previous 2.7%).

AUD/JPY Technical Outlook

Friday's decline for the Aussie sees the AUD/JPY pushing straight back into the 50-day Simple Moving Average (SMA) as the pair struggles to find momentum in the medium term; long-term support sits at the 200-day SMA just below 93.00 while the current ceiling on any bullish moves sits at late September's high near the 97.00 handle.

The Aussie is still up over 10% from 2023's lows against the beleaguered Yen, but a rebounding JPY could see the AUD/JPY set for a bearish trend formation.

AUD/JPY Daily Chart

AUD/JPY Technical Levels

AUD/JPY

Overview
Today last price	94.76
Today Daily Change	-0.32
Today Daily Change %	-0.34
Today daily open	95.08

Trends
Daily SMA20	94.98
Daily SMA50	94.74
Daily SMA100	94.87
Daily SMA200	92.73

Levels
Previous Daily High	95.2
Previous Daily Low	94.25
Previous Weekly High	95.66
Previous Weekly Low	94.14
Previous Monthly High	96.92
Previous Monthly Low	93.59
Daily Fibonacci 38.2%	94.84
Daily Fibonacci 61.8%	94.61
Daily Pivot Point S1	94.49
Daily Pivot Point S2	93.89
Daily Pivot Point S3	93.53
Daily Pivot Point R1	95.44
Daily Pivot Point R2	95.8
Daily Pivot Point R3	96.4

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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