AUD/JPY Price Analysis: Sees minor losses, capped by Ichimoku Cloud

AUD/JPY drops 0.20%, hovering near Ichimoku Cloud top, as improved market sentiment doesn't dent JPY's appeal.
Technical setup shows a range-bound trend with immediate resistance at 97.00 and 97.39 swing high.
Potential downside risks include breach of 96.71 (Tenkan-Sen), targeting Kijun-Sen at 95.82 and 96.00 level.

Christian Borjon Valencia FXStreet

The AUD/JPY registered modest losses of around 0.20% on Monday despite market sentiment shifting positively, usually a headwind for the safe-haven status of the Japanese Yen (JPY). Consequently, the cross-pair is trading at 96.80, after hitting a daily high of 97.27.

From a technical perspective, the AUD/JPY is range-bound though slightly tilted to the upside, with the pair hovering near the top of the Ichimoku Cloud (Kumo), and above the Tenkan-Sen and the Kijun-Sen. Nevertheless, a breach of the former at around 96.71, could pave the way for challenging the latter just below the 96.00 figure, at 95.82.

Given the backdrop, the AUD/JPY first resistance level is the 97.00 figure. Followed by the January 5 swing high at around 97.39. if buyers step in and push the prices above that level, up next would be the December 27 high at 97.59, followed by the 98.00 mark.

AUD/JPY Price Action – Daily Chart

AUD/JPY Technical Levels

AUD/JPY

Overview
Today last price	96.9
Today Daily Change	-0.31
Today Daily Change %	-0.32
Today daily open	97.21

Trends
Daily SMA20	96.34
Daily SMA50	96.79
Daily SMA100	95.78
Daily SMA200	94.29

Levels
Previous Daily High	97.4
Previous Daily Low	96.88
Previous Weekly High	97.4
Previous Weekly Low	95.84
Previous Monthly High	98.07
Previous Monthly Low	93.73
Daily Fibonacci 38.2%	97.2
Daily Fibonacci 61.8%	97.08
Daily Pivot Point S1	96.93
Daily Pivot Point S2	96.65
Daily Pivot Point S3	96.41
Daily Pivot Point R1	97.45
Daily Pivot Point R2	97.68
Daily Pivot Point R3	97.96

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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