AUD/JPY Price Analysis: Bears eye a break below key structure with eyes on 91.00

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.

Ross J Burland FXStreet

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.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

GBP/USD: Downward-sloping trendline near 1.3470 remains key barrier

The British pound faces selling pressure against its major currency peers, trading 0.1% lower at around 1.3420 against the US Dollar during the European trading session on Tuesday.

Euro clings to the bid bias above 1.1500

EUR/USD has picked up pace, reversing Monday’s decline and advancing past the 1.1500 barrier on Tuesday. In the meantime, hopes for a diplomatic solution to the Middle East crisis keep the US Dollar under modest downside pressure, helping spot in its recovery.

Ethereum holds steady below $1,900 as retail distribution rises

Ethereum (ETH) continued trading flat on Tuesday following modestly increasing exchange net flows and continued distribution across retail wallets. Ethereum on-chain data shows mixed sentiment across several wallet cohorts.

RBI set to keep interest rates unchanged as inflation risks persist

The Reserve Bank of India is set to announce its bi-monthly monetary policy decision on Wednesday at 10:00 AM IST (04:30 GMT), another meeting coming at a time when uncertainty remains high over the duration and economic fallout of the ongoing Middle East conflict.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.