AUD/JPY Price Analysis: Keeps uptrend intact despite overbought signals, nearby YTD high

AUD/JPY trades near YTD high, yet RSI hints at overbought conditions.
Potential resistance at October 2021 high; 96.00 mark eyed in a continued uptrend.
Support could emerge around 94.50/65, followed by the Tenkan-Sen line if a drop ensues.

Christian Borjon Valencia FXStreet

The AUD/JPY continues its uptrend, though at a steady pace, as it remains above the Ichimoku Cloud, but technical oscillators, such as the Relative Strength Index (RSI), suggest the pair might be at an overbought area. Therefore, the AUD/JPY is trading at 95.18, slightly below the year*to-date (YTD) high reached on Wednesday at 95.28.

AUD/JPY Price Analysis: Technical outlook

The AUD/JPY continued to trend higher amidst a Federal Reserve (Fed) pause but was slightly hawkish as policymakers revised the bank’s rates. That shifted sentiment, as Wall Street finished the session mixed, but on the FX space, the AUD/JPY held to its gain, though after a choppy trading session.

As mentioned above, the AUD/JPy pair is in overbought territory. Still, In the case of continuing to uptrend, the next resistance would be October 2021 high at 95.74, ahead of the psychological 96.00 mark. Conversely, if AUD/JPY drops below 95.00, the next support will emerge as a top-trend line of an ascending channel around 94.50/65, which could cushion the pair’s drop. A decisive break will expose the Tenkan-Sen line at 93.70 before dropping to the Kijun-Sen at 92.54s.

AUD/JPY Price Action – Daily chart

AUD/JPY

Overview
Today last price	95.18
Today Daily Change	0.30
Today Daily Change %	0.32
Today daily open	94.88

Trends
Daily SMA20	92.27
Daily SMA50	90.84
Daily SMA100	90.69
Daily SMA200	91.77

Levels
Previous Daily High	95.06
Previous Daily Low	93.98
Previous Weekly High	94.1
Previous Weekly Low	92.14
Previous Monthly High	92.44
Previous Monthly Low	89.16
Daily Fibonacci 38.2%	94.64
Daily Fibonacci 61.8%	94.39
Daily Pivot Point S1	94.22
Daily Pivot Point S2	93.56
Daily Pivot Point S3	93.14
Daily Pivot Point R1	95.3
Daily Pivot Point R2	95.72
Daily Pivot Point R3	96.38

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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