AUD/JPY Price Analysis: Probes the 200-DMA around 92.00

Risk aversion weighed on the Australian Dollar, bolstering the safe-haven status of the Japanese Yen.
AUD/JPY Price Analysis: Break below the 200-day EMA to exacerbate a fall towards 90.00.

Christian Borjon Valencia FXStreet

The Australian Dollar (AUD) losses ground against the Japanese Yen (JPY) amid a risk-off impulse as the prospects for a recession in the United States (US) increased, blamed on a worst-than-expected US ISM PMI, and flashed manufacturing activity is deteriorating. At the time of writing, the AUD/JPY is trading at 92.16.

AUD/JPY Price Analysis: Technical outlook

The AUD/JPY daily chart portrays the pair trading within a descending channel, with the 20, 50, and 100-day Exponential Moving Averages (EMAs) sitting above the exchange rate, further confirming the downtrend. Additionally, the AUD/JPY Thursday close below the former weekly low of 92.14, has paved the way for additional losses.

Oscillators with the Relative Strength Index (RSI) at bearish territory, and the 9-day Rate of Change (RoC) aiming downwards, suggests bears are gathering momentum. Therefore, the AUD/JPY path of least resistance is downwards.

The AUD/JPY key support levels are the 200-day EMA at 91.99, followed by the October 13 swing low of 90.83, followed by the August 2 pivot low of 90.52, ahead of the 90.00 figure.

As an alternate scenario, the AUD/JPY first resistance would be the 93.00 figure. Break above will open the AUD/JPY path to the confluence of the 20 and 100-day EMA at 93.40/60, ahead of the 50-day EMA at 93.78

AUD/JPY Key Technical Levels

AUD/JPY

Overview
Today last price	92.14
Today Daily Change	-1.60
Today Daily Change %	-1.71
Today daily open	93.74

Trends
Daily SMA20	93.78
Daily SMA50	93.71
Daily SMA100	94.32
Daily SMA200	92.77

Levels
Previous Daily High	93.85
Previous Daily Low	92.57
Previous Weekly High	94.14
Previous Weekly Low	93.12
Previous Monthly High	95.56
Previous Monthly Low	92.15
Daily Fibonacci 38.2%	93.36
Daily Fibonacci 61.8%	93.06
Daily Pivot Point S1	92.92
Daily Pivot Point S2	92.11
Daily Pivot Point S3	91.64
Daily Pivot Point R1	94.2
Daily Pivot Point R2	94.67
Daily Pivot Point R3	95.48

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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