AUD/JPY Price Analysis: Climbs towards the 95.50 figure, following a bullish-engulfing pattern

AUD/JPY rises and prints a new weekly high of 95.50 but remains within the 93.00/96.40 consolidation range.
Immediate resistance for AUD/JPY stands at 95.50, followed by the 96.00 psychological level.
Key supports are located at the top of the Kumo at 94.31 and 94.00.

Christian Borjon Valencia FXStreet

The Australian Dollar (AUD) registers solid gains against the Japanese Yen (JPY) after minutes of the latest Reserve Bank of Australia (RBA) showed the central bank kept the door open for further tightening. The AUD/JPY is trading at 95.33, up 0.54%.

Despite rising towards a weekly high of 95.50, the AUD/JPY pair remains consolidated but unable to break below/above the 93.00/96.40 range, though as price action remains above the Kumo, the bias is mildly bullish. Therefore, the first resistance would be 95.50, Tuesday’s high, followed by the psychological 96.00 mark. A breach of the latter would expose the top of the aforementioned resistance level at 96.40 and the year-to-date (YTD) high of 97.67.

On the flip side, the AUD/JPY first support would be the top of the Kumo at 94.31, followed by the 94.00 figure. Once cleared, the cross would die towards the October 3 daily low of 93.01.

AUD/JPY Price Action – Daily chart

AUD/JPY Technical Levels

AUD/JPY

Overview
Today last price	95.34
Today Daily Change	0.52
Today Daily Change %	0.55
Today daily open	94.82

Trends
Daily SMA20	95.16
Daily SMA50	94.58
Daily SMA100	94.65
Daily SMA200	92.53

Levels
Previous Daily High	94.91
Previous Daily Low	94.14
Previous Weekly High	95.83
Previous Weekly Low	94.05
Previous Monthly High	96.92
Previous Monthly Low	93.59
Daily Fibonacci 38.2%	94.61
Daily Fibonacci 61.8%	94.43
Daily Pivot Point S1	94.34
Daily Pivot Point S2	93.85
Daily Pivot Point S3	93.57
Daily Pivot Point R1	95.11
Daily Pivot Point R2	95.39
Daily Pivot Point R3	95.88

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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