AUD/JPY Price Analysis: Rallies above 91.00 on improved sentiment, spurred by Fed’s pause

AUD/JPY climbs from the Kijun-Sen support line, driven by risk appetite.
The emergence of a two-candle bullish harami pattern suggests further upside, yet resistance at the Tenkan-Sen line and May highs remain key hurdles.
If the AUD/JPY drops to challenge support at around 91.10-91.00, followed by the Kijun-Sen line and a support trendline around 90.00.

Christian Borjon Valencia FXStreet

AUD/JPY climbs after finding support around the Kijun-Sen line at 90.53, rising above the 91.00 figure, sponsored by traders’ appetite for riskier assets. Federal Reserve officials opening the door for a pause is the main reason behind the AUD/JPY uptrend. As the Asian session begins, the AUD/JPY is trading at 91.21.

AUD/JPY Price Analysis: Technical outlook

The AUD/JPY daily chart still shows the pair as neutral biased, of late clinging to the Tenkan-Sen price level. Should be said that a two-candle bullish harami pattern emerged, warranting further upside expected, but on its way north, buyers of the AUD/JPY cross-currency pair must hurdle some resistance levels.

The first would be the Tenkan-Sen line at 91.30, followed by the May 29 high at 92.01. A breach of the latter will expose the May 19 swing high at 92.35, followed by the year-to-date (YTD) high of 92.99.

Conversely, the AUD/JPY must dive below a seven-month-old downslope resistance trendline, turning support at 91.10-91.00. If AUD/JPY breaks below that area, the next support would be the Kijun-Sen line at 90.43, ahead of testing a support trendline that passed at around the 90.00 figure. Once cleared, the next support would be the top of the Ichimoku Cloud at 89.55.

AUD/JPY Price Action – Daily chart

AUD/JPY

Overview
Today last price	91.21
Today Daily Change	0.60
Today Daily Change %	0.66
Today daily open	90.61

Trends
Daily SMA20	91.2
Daily SMA50	89.97
Daily SMA100	90.41
Daily SMA200	91.87

Levels
Previous Daily High	91.43
Previous Daily Low	90.26
Previous Weekly High	92.35
Previous Weekly Low	90.76
Previous Monthly High	92.44
Previous Monthly Low	89.16
Daily Fibonacci 38.2%	90.71
Daily Fibonacci 61.8%	90.98
Daily Pivot Point S1	90.11
Daily Pivot Point S2	89.6
Daily Pivot Point S3	88.94
Daily Pivot Point R1	91.27
Daily Pivot Point R2	91.93
Daily Pivot Point R3	92.43

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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