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.

AUD/USD hangs near three-week low, below 0.6950 as traders await US NFP report

AUD/USD hits a three-week low during the Asian session on Friday as the RBA’s dovish shift and a rout in equity markets weigh on the risk-sensitive Aussie. However, the recent slump in US bond yields to a two-month low keeps US Dollar bulls on the back foot and limits losses for the currency pair as traders look to the US NFP report for a fresh impetus.

USD/JPY bounces off three-week low; keeps the red near 157.65 as focus remains on US NFP

USD/JPY bounces off the weekly low set during the Asian session, as bears turn cautious ahead of the US NFP report due later this Friday. The upside seems limited as the recent slump in US bond yields and hopes of Iran war de-escalation undermine the US Dollar. Moreover, a hawkish BoJ and intervention risks support the Japanese Yen, capping the pair.

Gold loses the grip; $4,000 comes next on the downside

Gold sets aside two daily advances in a row on Friday, opening the door to a potential test of the key $4,000 mark per troy ounce. The precious metal’s retracement follows a decent improvement in the sentiment surrounding the US Dollar, solid NFP data and higher US Treasury yields across the board.

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

The biggest story this week was Tuesday’s US midterm elections, which saw Democrats win control of both the House and the Senate in a clear blue wave. This political shift in the US has triggered sharp price swings across the cryptocurrency market.

Week ahead – Inflation and geopolitics in focus as US political landscape shifts

Post-midterm election euphoria fizzles out as risk aversion prevails. US CPI, PPI and Fedspeak on the radar as Fed hike bets remain supported. Oil retreat pauses on mixed hopes about the ongoing conflicts.

US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.