- AUD/JPY bears have started to take on the supporting trendlines.
- The AUD/JPY price imbalance is vulnerable and guards potentially all the way to 91.00 the figure.
The forex space is registering fresh highs and lows all over the board and AUD/JPY is no exception. This leaves the outlook compelling for the week ahead as we had over to the second day of trade starting in Asia.
The bulls have been in charge for the best part of the end of last week with a strong rally from a low of around 88.00 to meet the upper end of the 91 area. The question now is whether the bears will be given an opportunity as the price starts to consolidate here following some recent deceleration on the bid:
AUD/JPY price analysis
The bears have started to take on the supporting trendlines and a break there will open risks of a move into the price imbalance below and potentially all the way to the 91.27s and the 91.00 figure.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Follow us on Telegram
Stay updated of all the news
AUD/USD continues to juggle below 0.6660 ahead of Australian Retail Sales and CPI data
The AUD/USD pair is demonstrating a back-and-forth action below 0.6660 from Friday’s session. The sideways performance in the Aussie asset is expected to conclude and a power-pack action will be witnessed.
EUR/USD: Euro recovers ground but not re-attracting bulls yet Premium
The EUR/USD rose on Monday toward the 1.0800 area, recovering some of Friday’s slide, supported by an improvement in market sentiment, amid easing concerns on the banking sector.
Gold: XAU/USD finds support above $1,940; drops more than 1% on Monday Premium
Spot gold dropped on Monday, losing more than $20 as US yields rose, with the 10-year surpassing 3.50%. The yellow metal bottomed at $1,940/oz and then trimmed losses, climbing back above $1,950.
This is how EOS holders responded to the network's EVM testnet launch, what to expect this week
The first milestone on the EOS Network Foundation’s roadmap, the completion of the EOS EVM (Ethereum Virtual Machine) code, was achieved on March 22, starting the countdown to the launch of the EOS testnet.
US Consumer Confidence Preview: No good news for Americans Premium
The United States will publish the March Conference Board Consumer Confidence index, and market players anticipate it has contracted to 101 from 102.9 in February.