AUD/JPY Price Analysis: Cross plunges and falls below 108.00

AUD/JPY sharply declined by more than 1.50%.
The RSI fell non-stop from the deep overbought region near its middle point.

Patricio Martín FXStreet

During Thursday's trading session, the AUD/JPY pair witnessed sharp losses towards 107.30. Overall, the pair is generally taking a pause as buyers hold off, and given the pair's status in the multi-year, the probability of further corrections is imminent. However, indicators scaped overbought conditions which is healthy for the pair.

On the daily view, the Relative Strength Index (RSI) for AUDJPY plunged to nearly 56, non-stop from the 70 threshold. Concurrently, the Moving Average Convergence Divergence (MACD) portrays a declining green bars scenario, mimicking a tapering off of the existing bullish momentum.

AUD/JPY daily chart

From the broader perspective, the AUD/JPY pair continues to exhibit signs of a potent bullish sentiment backed by its position in multi-year highs and above its main Simple Moving Averages (SMAs). In case of further pullbacks, several key supports line up below 107.00 where the 20-day SMA converges. The 106.50 and 106.00 could come into play to limit losses. However, should the pair sustain buyer interest, the pair might seek a retest around the 107.00-109.00 area.

Author

Patricio Martín

FXStreet

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

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.