AUD/JPY Price Analysis: Mild rebound continues despite broader bearish technical backdrop

AUD/JPY trades near the 90.50 zone with modest gains ahead of the Asian session
Bearish pressure persists as momentum indicators and moving averages remain broadly negative
Resistance capped near 90.90, while immediate support lies just above 90.20

Patricio Martín FXStreet

The AUD/JPY pair edged higher during Monday’s session ahead of the Asian open, extending a modest rebound that left it trading around the 90.50 area. While price action climbed within the upper part of the day’s range between 89.571 and 90.832, technical indicators continue to reflect a bearish broader picture.

The Relative Strength Index (RSI) prints a neutral 42.576, while the Moving Average Convergence Divergence (MACD) maintains a sell signal. The Stochastic RSI Fast stands at 58.383, and Bull Bear Power at −1.887, both indicating a neutral stance with limited bullish conviction.

Adding weight to the downside risks, all key simple moving averages are aligned to the bearish side: the 20-day at 92.533, the 100-day at 95.758, and the 200-day at 97.813. Shorter-term averages, including the 10-day exponential and simple moving averages at 90.777 and 90.650, respectively, also point downward, reinforcing the lack of sustained bullish momentum.

From a technical level perspective, immediate support is seen at 90.226, followed by stronger footing near the 89.80 area. On the upside, resistance is stacked around 90.65, with further barriers at 90.777 and 90.899 if buyers push for a more convincing recovery.

Daily chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

EUR/USD: US Dollar recovers ahead of ECB, more Trump in the docket

The EUR/USD pair soared in the last week of January, hitting a multi-year high of 1.2082 before finally retreating and trimming most of its weekly gains to settle around the 1.1900 level. The US Dollar gapped lower on Monday, on headlines suggesting the United States intended to intervene in the Japanese Yen.

GBP/USD retreats further, threatens 1.3700

Selling pressure remains on the rise, dragging GBP/USD back towards three-day lows around 1.3720-1.3710 at the end of the week. Cable’s retracement reflects a firmer rebound in the Greenback as investors digest Trump’s announcement of the next Fed chair.

Gold: Correction should be temporary

Gold kept winning this week, and on Thursday it briefly reached new all-time highs just beyond the $5,600 mark per troy ounce. Since then, the yellow metal has entered a correction phase, as some traders took profits at the right time and the US Dollar rose sharply.

Week ahead: Could strong US data shift focus from Trump’s rhetoric?

Significant market moves keep investors on their toes. Trump has been the primary source of volatility, mainly when targeting the Fed. Pivotal US data releases next week as markets adjust to potential Warsh Fed nomination. RBA, BoE and ECB meet next week; decent chances of surprises across the board. Dollar/Yen prepares for February 8 elections; gold experiences its first substantial correction.

Global central banks hold steady as EMs signal easing ahead

Central banks across both G10 and emerging markets met this week, with most opting to keep policy rates unchanged. Canada, Sweden, Brazil and Chile all held rates steady. Beyond central bank decisions, the Eurozone's solid Q4 GDP growth bolstered the case for the ECB to keep policy rates unchanged next week.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple deepen sell-off as bears take control of momentum

Bitcoin, Ethereum, and Ripple continued their corrections on Friday, posting weekly losses of nearly 6%, 3%, and 5%, respectively. BTC is nearing the November lows at $80,000, while ETH slips below $2,800 amid increasing downside pressure.