AUD/JPY Price Analysis: Challenges daily high, approaches 85.50

AUD/JPY consolidates near daily highs in the Asian session.
Bulls face a stiff resistance zone near the 85.30 area.
Momentum oscillator signals continuation of the upward momentum.

Rekha Chauhan Independent Analyst

The AUD/JPY cross maintains a steady tone in the Asian session and trades near the daily highs at 85.25.

AUD/JPY daily chart

On the daily chart, the cross has been accumulating gains near the session’s high. The cross is in continuous upward motion since April 23 from the lows of 83.09 and hit the YTD high at 85.80 on Monday.

The Moving Average Convergence Divergence (MACD) indicator, placed well above the midline, hints at a continuation of the northern move for AUD/JPY. On moving higher, the price would test the 85.50 horizontal resistance area, followed by the high of Monday at 85.80

The next area of resistance could be the June 2017 high at 86.55.

Alternatively, on the downside, immediate support is placed at the 23.6% Fibonacci retracement (from lows of 82.28) near the 85.00 area.

The next support area could be the Friday low at 84.72, followed by Thursday’s low at 84.24.

AUD/JPY Additional Levels

AUD/JPY

Overview
Today last price	85.11
Today Daily Change	-0.07
Today Daily Change %	-0.08
Today daily open	85.18

Trends
Daily SMA20	84.34
Daily SMA50	84.03
Daily SMA100	82.37
Daily SMA200	79.3

Levels
Previous Daily High	85.44
Previous Daily Low	84.82
Previous Weekly High	85.32
Previous Weekly Low	83.93
Previous Monthly High	85.01
Previous Monthly Low	83.04
Daily Fibonacci 38.2%	85.06
Daily Fibonacci 61.8%	85.21
Daily Pivot Point S1	84.86
Daily Pivot Point S2	84.53
Daily Pivot Point S3	84.23
Daily Pivot Point R1	85.48
Daily Pivot Point R2	85.77
Daily Pivot Point R3	86.1

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.

GBP/USD declines as market caution lifts US Dollar

GBP/USD extends its gains for the second successive day, trading around 1.3200 during the Asian hours on Wednesday. The currency pair depreciated as the US Dollar gained momentum, driven by a combination of robust domestic economic data and a complex, mixed geopolitical landscape.

EUR/USD hits one-year low, eyes 1.1350 as bullish USD offsets oversold RSI

The EUR/USD pair drifts lower for the third straight day – also marking the fifth day of a negative move in the previous six – and drops to over a one-year low during the Asian session on Wednesday. Spot prices currently trade around the 1.1365 area, down nearly 0.15% for the day, and seem vulnerable to slide further amid a bullish US Dollar.

$4,050: Gold dives to fresh two-week low as Fed rate hike bets boost US Dollar

Gold drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday. Despite easing inflationary concerns in the face of the recent fall in Crude Oil prices, traders have been pricing in a greater chance of a rate hike by the US Federal Reserve.

Dogecoin tests a key make-or-break point amid waning retail support

Dogecoin trades below $0.08000 maintaining a steady decline for the seventh straight week. The meme coin is losing its retail strength as DOGE futures Open Interest drops 10% in 24 hours, while institutional demand remains muted with zero inflows so far this week.

"Rearranging the deckchairs on the Titanic": UK's fiscal crisis outlasts another Prime Minister

Keir Starmer's resignation as the UK Prime Minister comes ten years after the Brexit referendum vote, a coincidence that financial markets have been quick to note. The British Pound trades around 1.3220 against the US Dollar on Thursday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.