AUD/JPY Price Analysis: Bulls keep eye on 38.2% Fibonacci retracement near 84.15

AUD/JPY remains subdued in the Asian session.
Cross seeks support near daily lows at 84.54.
Momentum oscillator caution for directional bet awaits confirmation.

Rekha Chauhan Independent Analyst

The AUD/JPY gave up some of its gains after touching multi-year high at 85.82, having rallied from the lows of 82.28 since March 24. The cross moves in a very narrow trading range and lacks meaningful price action on Friday for the time being.

At the time of writing, AUD/JPY is trading at 84.61, up 0.02% on the day.

AUD/JPY daily chart

On the daily chart, the cross accumulates in the vicinity of the previous day’s closing at 84.60. The formation of the Doji candlestick points at the indecisive market participants at this juncture. If price follows the weekly downward momentum, then the first area of support could be the previous day’s low at 84.29.

The receding Moving Average Convergence Divergence (MACD) indicator looks for the 84.00 horizontal support level next.

The next area of resistance would be April 26 lows at 83.50.

Alternatively, if price reverses, then it could retest the previous day’s high at 84.90 followed by Wednesday’s high of 85.26.

The price action would mark the continuation of the initial uptrend reaching out for the 85.50 horizontal resistance level.

AUD/JPY Additional Levels

AUD/JPY

Overview
Today last price	84.62
Today Daily Change	0.01
Today Daily Change %	0.01
Today daily open	84.61

Trends
Daily SMA20	84.39
Daily SMA50	84.09
Daily SMA100	82.49
Daily SMA200	79.39

Levels
Previous Daily High	84.91
Previous Daily Low	84.29
Previous Weekly High	85.32
Previous Weekly Low	83.93
Previous Monthly High	85.01
Previous Monthly Low	83.04
Daily Fibonacci 38.2%	84.53
Daily Fibonacci 61.8%	84.67
Daily Pivot Point S1	84.3
Daily Pivot Point S2	83.99
Daily Pivot Point S3	83.68
Daily Pivot Point R1	84.91
Daily Pivot Point R2	85.22
Daily Pivot Point R3	85.53

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

AUD/USD climbs toward 0.7000 after strong China data dump

AUD/USD attracts follow-through buyers for the second straight day on Monday, extending last week's recovery toward 0.7000 in Monday's Asian trading. Strong Chniese Q3 GDP and activity data for September strengthen the pair's advance, following RBA Assistant Governor Chris Kent's hawkish remarks.

USD/JPY struggles near 158.00 amid hawkish BoJ, subdued USD

USD/JPY remains defensive near 158.00 in the Asian session on Monday, as the US Dollar remains depressed near a two-week low amid the recent decline in US bond yields. Furthermore, looming intervention risks underpin the Japanese Yen and weigh on the pair amid BoJ Governor Kazuo Ueda's hawkish remarks. However, Fed rate-hike bets and geopolitical uncertainties could limit USD losses and the major.

Gold drops to daily lows below $4,150

Gold builds on Friday’s retracement and slips back below the $4,150 mark per troy ounce on Monday. The better tone in the US Dollar and a decent bounce in US Treasury yields across the curve keep the yellow metal under pressure for now.

Crypto Today: Bitcoin, Ethereum, XRP extend recovery despite ETFs outflows

Bitcoin edges higher above $82,000, building strong structural support despite roughly $229 million in ETF outflows last week. Ethereum recovers above $2,400 as bulls strive to regain trend control, backed by a subtle recovery in momentum indicators.

Higher than expected inflation shakes markets: What to prepare for?

US CPI report came in stronger than expected, lifting the probability of a December rate hike higher once again. Even though Fed Chair Warsh reinforced expectations of a hold for the October’s meeting, markets now face a two-step event: a likely pause on October 28, followed by an interest rate hike on December 9.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold (XAU/USD) is struggling to capitalize on a weaker US Dollar (USD), after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.