AUD/JPY Price Analysis: Refreshes fortnight low as sellers attack 93.50 key support

AUD/JPY remains pressured around two-week low, extends the previous day’s losses.
50-DMA, six-month-old ascending trend line restricts immediate downside.
MACD teases bears but 100-DMA acts as an extra filter to the south.

Anil Panchal FXStreet

AUD/JPY bears keep reins around the lowest levels in two weeks as they poke 93.45 during early Friday morning in Europe.

In doing so, the cross-currency pair extends the previous day’s losses while pushing bears to attack the crucial support confluence near 93.50, comprising the 50-DMA and an upward sloping trend line from January. It should be noted that the MACD also lures bears and adds strength to the downside bias.

Even so, the 100-DMA support around 92.45 can test the AUD/JPY bears before directing them to the monthly low near 91.40.

It should be noted that the mid-May swing high around 91.20 could challenge sellers past 91.40, a break of which could quickly fetch the quote towards the 90.00 threshold.

Alternatively, recovery remains elusive below March’s high near 94.35.

Following that, a horizontal area comprising multiple levels marked since April 20, close to 95.85 will be a tough nut to crack for the AUD/JPY bulls.

In a case where the pair successfully crosses the 95.85 hurdle, the odds favoring its run-up towards the yearly peak of 96.88 can’t be ruled out.

AUD/JPY: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	93.41
Today Daily Change	-0.32
Today Daily Change %	-0.34%
Today daily open	93.73

Trends
Daily SMA20	93.76
Daily SMA50	93.49
Daily SMA100	92.38
Daily SMA200	87.59

Levels
Previous Daily High	95.57
Previous Daily Low	93.57
Previous Weekly High	95.76
Previous Weekly Low	93.94
Previous Monthly High	96.88
Previous Monthly Low	91.97
Daily Fibonacci 38.2%	94.34
Daily Fibonacci 61.8%	94.81
Daily Pivot Point S1	93.01
Daily Pivot Point S2	92.29
Daily Pivot Point S3	91.01
Daily Pivot Point R1	95.01
Daily Pivot Point R2	96.29
Daily Pivot Point R3	97.01

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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