AUD/JPY Price Analysis: Bulls regain ground but downside risks persist

AUD/JPY was seen trading around the 93.00 area ahead of the Asian session, recovering from a three-day losing streak.
Despite the rebound, the pair remains below key resistance, while indicators continue to reflect underlying bearish pressure.

Patricio Martín FXStreet

The AUD/JPY pair bounced back on Tuesday ahead of the Asian session, moving near the 93.00 zone after declining for three consecutive sessions. While the daily advance suggests some buying pressure, the broader technical picture remains uncertain as the pair struggles to hold above key resistance levels.

Technical indicators paint a mixed picture. The Relative Strength Index (RSI) has sharply risen but remains in negative territory, indicating that the recovery lacks strong bullish momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) is printing decreasing red bars, signaling that bearish momentum is easing but not entirely absent. This suggests that while selling pressure has subsided, buyers may still need to overcome key resistance before confirming a sustained recovery.

Looking at support and resistance levels, the first resistance lies around the 93.50 region, followed by stronger resistance at 94.00. A break above these levels could provide the bulls with further momentum. On the downside, immediate support is seen at 92.50, with a deeper floor around 92.00. The 20-day Simple Moving Average (SMA) at 95.00 remains a critical level for a broader trend shift.

AUD/JPY daily chart

Author

Patricio Martín

FXStreet

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

EUR/USD holds losses below 1.1850 ahead of FOMC Minutes

EUR/USD stays on the back foot below 1.1850 in the European session on Wednesday, pressured by renewed US Dollar demand and reports that ECB President Lagarde will step down before the end of her term. Traders now look forward to the Minutes of the Fed's January monetary policy meeting for fresh signals on future rate cuts.

GBP/USD defends 1.3550 after UK inflation data

GBP/USD is holding above 1.3550 in Wednesday's European morning, little changed following the UK Consumer Price Index (CPI) data release. The UK inflation eased as expected in January, reaffirming bets for a March BoE interest rate cut, especially after Tuesday's weak employment report.

Gold retains bullish bias amid Fed rate cut bets, ahead of Fed Minutes

Gold sticks to modest intraday gains through the early European session, reversing a major part of the previous day's heavy losses of more than 2%, to the $4,843-4,842 region or a nearly two-week low. That said, the fundamental backdrop warrants caution for bulls ahead of the FOMC Minutes, which will look for more cues about the US Federal Reserve's rate-cut path.

Pi Network rally defies market pressure ahead of its first anniversary

Pi Network is trading above $0.1900 at press time on Wednesday, extending the weekly gains by nearly 8% so far. The steady recovery is supported by a short-term pause in mainnet migration, which reduces pressure on the PI token supply for Centralized Exchanges. The technical outlook focuses on the $0.1919 resistance as bullish momentum increases.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Top 3 Price Prediction: Bitcoin, Ethereum, and Ripple face downside risk as bears regain control

Bitcoin, Ethereum, and Ripple remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.