AUD/JPY Price Analysis: Bearish pressure intensifies, potential short-term rebound signalled

The hourly chart portrays the RSI in the oversold territory, signaling a potential short-term rebound.
On a broader perspective, the AUD/JPY remains above the main SMAs, indicating long-term bullish sentiment.
The daily RSI is also in negative territory, showing increasing selling pressure.
In the next sessions, the sellers may take a step back to consolidate their movements.

Patricio Martín FXStreet

In Friday's session, the AUD/JPY pair is now trading at 97.49, demonstrating a loss of 0.38%. While the pair is currently dominated by sellers, oversold conditions seen on the hourly chart suggest that the pair may see some upside in the short term to consolidate.

Analyzing the daily chart, the pair's Relative Strength Index (RSI) sits in negative territory, showcasing stronger selling momentum. In line with that, the Moving Average Convergence Divergence (MACD) histogram shows increasing negative momentum with rising red bars. Despite the ongoing bearish tendency, the pair manages to stay above the 100 and 200-day Simple Moving Averages (SMAs), which signifies a favorable condition for the bulls overall.

AUD/JPY daily chart

Zooming to the hourly chart, the RSI is currently located in the oversold territory, contrasting sharply with the daily chart, suggesting a possible short-term rebound due to oversold conditions. Likewise, the MACD illustrates increasing negative momentum on the hourly chart, aligning with the daily analysis. Despite differing conditions outlined in the hourly and daily charts, both depict dominant bearish forces, with bulls maintaining their stance in the broader spectrum and with the possibility of a bullish rebound in the short term.

AUD/JPY hourly chart

AUD/JPY

Overview
Today last price	97.38
Today Daily Change	-0.63
Today Daily Change %	-0.64
Today daily open	98.01

Trends
Daily SMA20	98.01
Daily SMA50	97.35
Daily SMA100	96.98
Daily SMA200	95.87

Levels
Previous Daily High	98.1
Previous Daily Low	97.43
Previous Weekly High	98.84
Previous Weekly Low	97.34
Previous Monthly High	99.06
Previous Monthly Low	95.5
Daily Fibonacci 38.2%	97.69
Daily Fibonacci 61.8%	97.84
Daily Pivot Point S1	97.6
Daily Pivot Point S2	97.18
Daily Pivot Point S3	96.93
Daily Pivot Point R1	98.26
Daily Pivot Point R2	98.51
Daily Pivot Point R3	98.93

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold tumbles as blockbuster US NFP lift US Dollar, Treasury yields

Gold (XAU/USD) falls sharply on Friday, snapping a two-day recovery after the US Nonfarm Payrolls (NFP) report surprised strongly to the upside. The metal briefly climbed above $4,500 on Thursday, gaining nearly 2%, but has since erased a large part of that advance.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.