AUD/JPY Price Analysis: Moves near 94.70 with conflicting signals limiting directional conviction

AUD/JPY was seen trading near the 94.70 zone on Wednesday, holding mid-range after a mild advance.
Momentum indicators flash mixed cues, with short-term bias tilted higher but overbought risks emerging.
Support lies around 94.60–94.42, while resistance caps gains near the 95.20–96.45 zone.

Patricio Martín FXStreet

The AUD/JPY pair edged slightly higher on Wednesday’s session ahead of the Asian open, seen trading around the 94.70 area. After bouncing from earlier lows, the pair managed to extend its recovery, though intraday action remains confined within the mid-point of its daily range, with a mixed technical setup keeping broader trends in check.

From a momentum perspective, the MACD histogram signals a potential buy. Meanwhile, the Ichimoku Base Line near 94.30 maintains a neutral stance. The Relative Strength Index stands at 51 and the Stochastic oscillator at 71, both hovering in neutral territory, yet the combined RSI/Stochastic indicator printing near 85 raises early overbought warnings.

The moving average analysis shows the 20-day Simple Moving Average at 93.88, supporting upside momentum in the short term. However, longer-term pressure remains, as both the 100-day SMA at 96.98 and 200-day SMA at 98.80 continue to slope downward, suggesting that underlying bearish risk remains in play.

In terms of key levels, immediate support is seen around 94.60, followed by 94.47 and 94.42. On the flip side, resistance is expected at 95.22 and 95.36, with a break above the latter potentially opening the door for a test of 96.45.

AUD/JPY 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.