AUD/JPY Price Analysis: Hits 17-year high above 106.00 on JPY weakness

AUD/JPY hits a 17-year peak at 106.37, following the BoJ's decision to maintain interest rates.
Technicals indicate a strong uptrend with RSI in bullish territory; upcoming resistance at 106.50 and 107.00.
Support levels include Tenkan-Sen at 104.98, Senkou Span A at 104.73, and Kijun-Sen at 104.49.

Christian Borjon Valencia FXStreet

The Australian Dollar surged to a new 17-year high of 106.37 against the Japanese Yen as the Bank of Japan failed to increase interest rates on its latest monetary policy decision, which weighed on the Japanese currency. Therefore, the AUD/JPY rallied higher and traded at 106.22, up 0.16%.

AUD/JPY Price Analysis: Technical outlook

The AUD/JPY cross-pair uptrend remains intact, with the pair breaching the previous year-to-date (YTD) high of 104.94, which opened the door to test 105.00 and beyond. Even though momentum favors buyers with the Relative Strength Index (RSI) in bullish territory, downside risks remain due to verbal intervention by Japanese authorities.

If the JPY continued to depreciate steadily, that could pave the way for further gains. The next resistance would be the 106.50, ahead of 107.00. UP next would be the October 2007 peak at 107.86.

Conversely, if the cross-pair extends its losses past 106.00, the first support would be the Tenkan-Sen at 104.98, followed by the Senkou Span A at 104.73. Once cleared, the bull’s last line of defense would be the Kijun-Sen at 104.49.

AUD/JPY Price Action – Daily Chart

AUD/JPY

Overview
Today last price	106.26
Today Daily Change	0.12
Today Daily Change %	0.11
Today daily open	106.14

Trends
Daily SMA20	104.35
Daily SMA50	102.95
Daily SMA100	100.64
Daily SMA200	98.49

Levels
Previous Daily High	106.16
Previous Daily Low	105.47
Previous Weekly High	106.16
Previous Weekly Low	103.59
Previous Monthly High	104.87
Previous Monthly Low	99.93
Daily Fibonacci 38.2%	105.9
Daily Fibonacci 61.8%	105.73
Daily Pivot Point S1	105.69
Daily Pivot Point S2	105.23
Daily Pivot Point S3	105
Daily Pivot Point R1	106.38
Daily Pivot Point R2	106.62
Daily Pivot Point R3	107.07

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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