AUD/JPY Price Analysis: Retreats on global recession risks, Fed tightening

AUD/JPY experiences a plunge due to rising risk aversion; global business indicators hint at a potential slowdown.
Despite an upward medium-term bias, the pair could extend its pullback towards the Senkou Span A level at 95.19.
Key resistance levels are at the Tenkan-Sen line at 95.99 and the year-to-date high at 97.67.

Christian Borjon Valencia FXStreet

AUD/JPY plunges due to risk aversion, as solid data from the United States (US) increased the odds for further tightening by the US Federal Reserve (Fed). That, alongside worldwide business activity indicators showing signs of slowing down, ignited recession risks. The AUD/JPY is trading at 95.44, down 0.83%.

AUD/JPY Price Analysis: Technical outlook

The AUD/JPY remains upward biased from a medium-term perspective, though the ongoing pullback could extend toward the Senkou Span A at 95.19. If AUD/JPY slides below that level, the cross-currency pair would test the 95.00 psychological level. A breach of the latter will expose the Kijun-Sen line at 94.39, followed by the 94.00 figure.

If AUD/JPY aims toward 95.00 and bounces off that level, the first resistance would be the Tenkan-Sen line at 95.99. If that level is surpassed, the AUD/JPY first resistance would be 97.00. Once broken, the next ceiling level would be the year-to-date (YTD) high at 97.67.

AUD/JPY Price Action – Daily chart

AUD/JPY

Overview
Today last price	95.43
Today Daily Change	-0.83
Today Daily Change %	-0.86
Today daily open	96.26

Trends
Daily SMA20	95.85
Daily SMA50	93.09
Daily SMA100	91.42
Daily SMA200	91.8

Levels
Previous Daily High	96.84
Previous Daily Low	96.06
Previous Weekly High	96.5
Previous Weekly Low	95.16
Previous Monthly High	97.68
Previous Monthly Low	90.3
Daily Fibonacci 38.2%	96.35
Daily Fibonacci 61.8%	96.54
Daily Pivot Point S1	95.93
Daily Pivot Point S2	95.61
Daily Pivot Point S3	95.16
Daily Pivot Point R1	96.71
Daily Pivot Point R2	97.16
Daily Pivot Point R3	97.49

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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