• AUD/JPY remains largely unchanged at 95.01, but recent price action suggests a possible correction could be on the horizon.
  • The pair has formed a ‘bearish-harami’ candlestick pattern on the daily chart, indicating potential downside risks.
  • Short-term outlook turns bearish as the pair falls below the Kumo.

The Australian Dollar (AUD) trimmed some of its last week’s gains versus the Japanese Yen (JPY), which dropped 0.05% on Monday. However, as the Tuesday Asian session begins, the AUD/JPY hovers at around 95.01, unchanged.

From a daily chart perspective, the AUD/JPY is neutral to upward biased. Still, price action during the last couple of days suggests the cross-currency pair is headed for a correction, as it formed a ‘bearish-harami’ candlestick pattern formed by an inverted hammer and a doji. Hence, the cross-first support would be the 95.00 figure, followed by the top of the Ichimoku Cloud (Kumo) at 94.74, followed by the Tenkan-Sen line at 94.56, and followed by the Kijun-Sen at 94.17.

Short-term, the cross-currency pair has fallen below the Kumo, suggesting the pair turned bearish bias. To resume its downtrend, AUD/JPY sellers must drag prices below the September 18 swing low of 94.78. That would reaffirm the bearish bias and open the door to test the September 14 swing low of 94.50, followed by an upslope support trendline around 94.20/40. A decisive break and the 94.00 threshold would be next.

AUD/JPY Price Action – Hourly chart

AUD/JPY Technical Levels

AUD/JPY

Overview
Today last price 95.02
Today Daily Change -0.09
Today Daily Change % -0.09
Today daily open 95.11
 
Trends
Daily SMA20 94.29
Daily SMA50 94.29
Daily SMA100 93.81
Daily SMA200 92.03
 
Levels
Previous Daily High 95.55
Previous Daily Low 94.81
Previous Weekly High 95.55
Previous Weekly Low 93.65
Previous Monthly High 95.81
Previous Monthly Low 92.79
Daily Fibonacci 38.2% 95.27
Daily Fibonacci 61.8% 95.09
Daily Pivot Point S1 94.76
Daily Pivot Point S2 94.41
Daily Pivot Point S3 94.02
Daily Pivot Point R1 95.5
Daily Pivot Point R2 95.9
Daily Pivot Point R3 96.24

 

 

 
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