AUD/JPY Price Analysis: Hovers around new four-day high, remains subdued
- AUD/JPY reaches a new four-day high at 95.37, trading at 95.22 as the Asian session begins.
- The pair remains neutral-biased, tilted to the upside, with potential resistance at October 12 high 95.83.
- Sellers must clear the 94.96/85 area and the top of the Kumo at 94.65 to shift momentum downwards.
The AUD/JPY reached a new four-day high at 95.37 on Tuesday, registering solid gains of 0.46%. However, as Wednesday’s Asian session begins, the cross-pair exchanges hands at 95..22, down a minimal 0.04%.
The daily chart portrays the pair as neutral-biased, tilted to the upside due to remaining above the Ichimoku Cloud (Kumo), which has narrowed, as the AUD/JPY is trendless. For a bullish continuation, buyers must reclaim the October 12 high at 95.83, followed by the latest cycle high at 96.92.
On the flip side, AUD/JPY sellers would need to clear the 94.96/85 area, where the Kijun and Tenkan-Sen levels lie, followed by the top of the Kumo at 94.65. A breach of the latter and the cross would slip inside the cloud, with the following support seen at the bottom of the Kumo at 94.00, followed by the October 3 low of 93.01.
AUD/JPY Price Action – Daily chart
AUD/JPY Technical Levels
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.
