AUD/JPY Price Analysis: Gains momentum, as morning-star emerges

AUD/JPY remains bullish in the near term after bulls reclaimed the Kijun-Sen, eyeing 98.00.
If the cross drops below 97.50, the AUD/JPY could challenge 97.00, ahead of dropping below 96.50.

Christian Borjon Valencia FXStreet

The AUD/JPY rallied more than 0.50% late in the North American session on Wednesday, ahead of the Thanksgiving holiday, which would drain liquidity in the financial markets on Thursday. Therefore, the currency pair is expected to remain within a narrow trading range, exchanging hands at 97.87.

The AUD/JPY daily chart portrays the pair as neutral to upward biased after breaking the Tenkan-Sen at 97.31. The formation of a ‘morning star’ opened the door to test the June 2023 high of 97.67, ahead of challenging the 98.00 figure. A breach of 98.00 and the pair could climb to 99.00.

On the other hand, if the pair slips below the November 21 high of 97.42, AUD/JPY sellers could drag the price towards the 97.00 figure. Once that level is cleared, the next stop would be the Senkou Span A at 96.90 before dropping toward the Kijun-Sen at 96.42.

AUD/JPY Price Analysis – Daily Chart

AUD/JPY Technical Levels

AUD/JPY

Overview
Today last price	97.84
Today Daily Change	0.55
Today Daily Change %	0.57
Today daily open	97.29

Trends
Daily SMA20	96.63
Daily SMA50	95.71
Daily SMA100	95.02
Daily SMA200	93.2

Levels
Previous Daily High	97.42
Previous Daily Low	96.83
Previous Weekly High	98.66
Previous Weekly Low	96.22
Previous Monthly High	96.42
Previous Monthly Low	93.05
Daily Fibonacci 38.2%	97.06
Daily Fibonacci 61.8%	97.2
Daily Pivot Point S1	96.94
Daily Pivot Point S2	96.59
Daily Pivot Point S3	96.35
Daily Pivot Point R1	97.53
Daily Pivot Point R2	97.77
Daily Pivot Point R3	98.12

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.

AUD/USD rises to 0.6950 as USD slips on Fed's Warsh

AUD/USD regains traction and extends the bounce toward 0.6950 in the Asian session on Friday. Fed Chair Warsh's comments reinforce the selling pressure on the US Dollar, allowing the pair to stretch higher. Warsh said that he remains committed to delivering price stability without giving away anything on future interest rate path.

USD/JPY falls in symc with USD, gives up 158.00 after Warsh's speech

USD/JPY has come under fresh selling pressure and gives up 158.00 in the Asian session on Friday amid the emergence of fresh US Dollar selling. Fed Chair Warsh's non-committal commentary on the future tightening path, weighs on the US Dollar and the pair.

Gold looks vacillating above $4,150

Gold alternates gains with losses below the key $4,200 mark per troy ounce on Friday. The yellow metal’s irresolute price action comes in response to a modest pullback in the US Dollar and a tepid recovery in US Treasury yields across the board.

Bitcoin steadies at $82,000: The five forces crushing the Uptober rally

Crypto markets have remained under pressure so far in October, with Bitcoin (BTC) sliding below $80,000 earlier this week before recovering to around $82,000 on Friday, as macroeconomic headwinds and cooling demand weigh on the market.

The Fed just got a second hot inflation number. Here's what the diesel signal is really saying

The Federal Reserve (Fed) faces a renewed inflation challenge after two consecutive reports showed price pressure intensifying across the US economy. September's Consumer Price Index (CPI) confirmed accelerating consumer inflation, while the Producer Price Index (PPI) revealed an even sharper rise in business costs. Behind both reports lies a common factor: energy prices.

Everyone's dumping Gold after hot US inflation. Here's why $4,100 could be a floor, not a cliff

Gold (XAU/USD) is recovering from a sharp sell-off triggered by hotter-than-expected United States (US) inflation data released on Wednesday. The precious metal briefly plunged toward $4,073 as investors increased their bets on further Federal Reserve (Fed) interest rate hikes before recovering as US Treasury yields and the US Dollar (USD) reversed their initial gains.