AUD/JPY Price Analysis: Auction above 38.2% Fibo retracement at 93.20 supports aussie bulls


  • An establishment above 38.2% Fibo retracement adds to the upside filters.
  • Momentum oscillator RSI (14) is favoring a consolidation ahead.
  • The risk barometer could tumble to 90.00 if drops below the 23.6% Fibo retracement.

The AUD/JPY pair is displaying back and forth moves in a 30-pips range after a vertical upside move from a low of 92.40 on Friday. On a broader note, the cross has moved significantly higher after printing a two-month low of 90.50.

A perpendicular upside move after slipping below the 61.8% Fibonacci retracement (which is placed from May 12 low at 87.30 to June 8 high at 96.85) close to 91.00 has defended the downside bias. The responsive buying action has pushed the cross above the 38.2% Fibo retracement at 93.20, which has now strengthened the antipodean against the yen bulls.

The asset is oscillating between the 50-and 200-period Exponential Moving Averages (EMAs) at 93.17 and 93.50 respectively, which indicates a consolidation ahead.

Also, the Relative Strength Index (RSI) (14) is oscillating in the 40.00-60.00 range, which indicates that the cross is waiting for a fresh trigger for a decisive move.

Should the asset oversteps Aug 4 high at 93.81, aussie bulls will get strengthen further and will drive the asset towards 23.6% Fibo retracement at  94.60, followed by July 27 high at 94.70.

Alternatively, the yen bulls could regain strength if the asset drops below 50% Fibo retracement at 92.10. A downside move may further drag the asset towards a 23.6% Fibo retracement close to 91.00. A slippage below 23.6% Fibo retracement will unleash the yen bulls for a downside move towards the psychological support of 90.00.

AUD/JPY four-hour chart

AUD/JPY

Overview
Today last price 93.37
Today Daily Change 0.00
Today Daily Change % 0.00
Today daily open 93.37
 
Trends
Daily SMA20 93.79
Daily SMA50 93.77
Daily SMA100 92.77
Daily SMA200 87.81
 
Levels
Previous Daily High 93.63
Previous Daily Low 92.25
Previous Weekly High 93.81
Previous Weekly Low 90.52
Previous Monthly High 95.76
Previous Monthly Low 91.42
Daily Fibonacci 38.2% 93.1
Daily Fibonacci 61.8% 92.77
Daily Pivot Point S1 92.54
Daily Pivot Point S2 91.7
Daily Pivot Point S3 91.16
Daily Pivot Point R1 93.92
Daily Pivot Point R2 94.46
Daily Pivot Point R3 95.3

 

 

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