AUD/JPY Price Analysis: Recovers from weekly lows, hovers below 94.00

AUD/JPY snaps five days of losses, gaining 0.20% and bouncing off a weekly low of 93.29, showing a slight upward trend.
Technical analysis reveals neutral to bullish sentiment, with the AUD/JPY pair lingering above the Ichimoku Cloud.
If the pair reclaims 94.00, it could aim for 94.65 and potentially reach the 95.00 mark, indicating upward momentum.

Christian Borjon Valencia FXStreet

The AUD/JPY reached a weekly low of 93.29 but bounced off, snapped five days of consecutive losses on Wednesday, and gained 0.20%. As Thursday’s Asian session begins, the AUD/JPY exchanges hand at 93.95, registering minuscule losses of 0.02%.

AUD/JPY Price Analysis: Technical outlook

The AUD/JPY remains neutral to upward biased, as it remains above the Ichimoku Cloud, but turned neutral as prices fell below the Tenkan-Sen and Kijun-Sen lines. Even though the former crossed beneath the latter, the Chikou Span stays on top of prices but is about to turn bearish, which would put into consideration a possible change of the trend.

If AUD/JPY reclaims 94.00, that could open the door for a retest of the November 16 high at 94.65, ahead of the pair reaching the 95.00 mark. Once cleared, the Tenkan-Sen could be tested at 95.04, followed by the Senkou Span A line at 95.48, and then the Kijun-Sen line at 95.32.

On the flip side, if the AUD/JPY drops below the Senkou Span B line at 93.42, the weekly lows of 93.29 would be exposed. The AUD/JPY 93.00 figure would be up next. Once broken, support emerges at May 19 high turned support ate 92.35.

AUD/JPY Price Action – Daily chart

AUD/JPY

Overview
Today last price	93.98
Today Daily Change	0.12
Today Daily Change %	0.13
Today daily open	93.86

Trends
Daily SMA20	95.97
Daily SMA50	93.44
Daily SMA100	91.51
Daily SMA200	91.83

Levels
Previous Daily High	94.61
Previous Daily Low	93.48
Previous Weekly High	96.84
Previous Weekly Low	94.74
Previous Monthly High	97.68
Previous Monthly Low	90.3
Daily Fibonacci 38.2%	93.91
Daily Fibonacci 61.8%	94.18
Daily Pivot Point S1	93.35
Daily Pivot Point S2	92.84
Daily Pivot Point S3	92.21
Daily Pivot Point R1	94.49
Daily Pivot Point R2	95.12
Daily Pivot Point R3	95.62

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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