• AUD/JPY slumps around 60 pips as RBA rejects YCC moves.
  • A fortnight-old ascending triangle in focus, 86.10 holds the gate for buyers.
  • Descending RSI, break of immediate support favor sellers.

AUD/JPY portrays a 60-pip fall to mid-85.00s on the Reserve Bank of Australia’s (RBA) moves during early Tuesday.

Read: RBA: Will not hike OCR until actual inflation is sustainably within the 2 to 3% target range

The pair refreshed intraday low to 85.28 on breaking the weekly support line, now resistance around 85.55, before the recent rebound to 85.45, down 0.40% intraday by the press time.

In addition to the weekly trend line break, downward sloping RSI and cautious mood in the market also weigh on the AUD/JPY prices. However, a clear break of 85.10 becomes necessary to confirm the ascending triangle bearish chart pattern.

Following that, the quote can extend the latest south-run towards an ascending support line from late September, around 83.50. During the fall, the 100-SMA level of 84.84 may act as a buffer.

Meanwhile, the cross-currency pair’s corrective pullback beyond the previous support line near 85.55 will need validation from the stated triangle’s resistance, at 86.10, to recall the AUD/JPY bulls.

To sum up, AUD/JPY sellers have knocked on the door but 85.10 serves as entry passes.

AUD/JPY: Four-hour chart

Trend: Further weakness expected

Additional important levels

Today last price 85.38
Today Daily Change -0.42
Today Daily Change % -0.49%
Today daily open 85.8
Daily SMA20 84.24
Daily SMA50 81.99
Daily SMA100 81.88
Daily SMA200 82.71
Previous Daily High 86.06
Previous Daily Low 85.6
Previous Weekly High 86.06
Previous Weekly Low 84.73
Previous Monthly High 86.26
Previous Monthly Low 79.9
Daily Fibonacci 38.2% 85.89
Daily Fibonacci 61.8% 85.78
Daily Pivot Point S1 85.58
Daily Pivot Point S2 85.36
Daily Pivot Point S3 85.12
Daily Pivot Point R1 86.04
Daily Pivot Point R2 86.28
Daily Pivot Point R3 86.5



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