AUD/JPY Price Analysis: Plummets below Ichimoku Cloud, targets 93.00

AUD/JPY shifts bearish, after the pair dropped more than 130 pips on Thursday.
Daily time frame shows bears in control as Chikou Span turns bearish while Kijun-Sen crosses above Tenkan-Sen.
Key support levels lie at 95.00 initial support, followed by 94.00 and December 7 low of 93.70, October 3 low of 93.01.

Christian Borjon Valencia FXStreet

On Thursday, the AUD/JPY plummeted more than 1.30%, shifting bearish, after finally breaching the top of the Ichimoku Cloud, signaling the downtrend is gathering pace. Nevertheless, traders must be aware of solid support levels seen at around the 93.70 area, the day’s low. At the time of writing, the cross exchanges hands at 95.11.

The daily time frame portrays the bears as in charge, though registering a daily close inside the Kumo keeps up and downside risks balanced. However, the Chikou Span shifted bearishly, while the crossing of the Kijun-Sen above the Tenkan-Sen provides two signals that suggest the downtrend remains in place.

With that said, AUD/JPY's first support would be the 95.00 figure. Once cleared, the next support is seen at the 94.00 mark, followed by December’s 7 daily low of 93.70, ahead of the October 3 low of 93.01.

On the other hand, in the event of bulls lifting prices above the Kumo’s top at around 95.40/59, that could pave the way to challenge the Tenkan-Sen at 96.04

AUD/JPY Price Analysis – Daily Chart

AUD/JPY Technical Levels

AUD/JPY

Overview
Today last price	95.13
Today Daily Change	-1.40
Today Daily Change %	-1.45
Today daily open	96.53

Trends
Daily SMA20	97.49
Daily SMA50	96.25
Daily SMA100	95.34
Daily SMA200	93.51

Levels
Previous Daily High	97.18
Previous Daily Low	96.33
Previous Weekly High	98.5
Previous Weekly Low	97.24
Previous Monthly High	98.66
Previous Monthly Low	95.61
Daily Fibonacci 38.2%	96.85
Daily Fibonacci 61.8%	96.66
Daily Pivot Point S1	96.19
Daily Pivot Point S2	95.84
Daily Pivot Point S3	95.34
Daily Pivot Point R1	97.03
Daily Pivot Point R2	97.52
Daily Pivot Point R3	97.87

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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