AUD/JPY Price Analysis: Slump for the second-straight day, approaches 83.00

The AUD/JPY snap a two-day gain, down some 0.01% amid a risk-off market mood.
AUD/JPY Technical Outlook: Bullish biased, though downside risks remain.

Christian Borjon Valencia FXStreet

As the North American session finishes, the Australian dollar grinds lower for the second time of the week, attributed to dented market mood, as investors assess US central bank rate hikes. At press time, the AUD/JPY is trading at 83.10.

In the meantime, Wall Street stock indices finished the session with losses, between 0.49% and 2.57%, weighing on risk-sensitive currencies like the Australian dollar. Safe-haven peers led by the Japanese yen in the FX complex advanced.

AUD/JPY Price Forecast: Technical outlook

On Thursday, the AUD/JPY pair seesawed between 83.30-50s area, followed by a climb towards the daily high around 83.77, collapsing afterward, near the 83.00 figure. Despite the abovementioned, the pair is neutral-bullish, as the daily moving averages (DMAs) reside below the spot price.

That said, the AUD/JPY first demand zone is the 83.00 figure. A breach of the latter would expose the 200-DMAT at 82.65, followed by the confluence of the 50 and the 100-DMA at 82.35, and then the 82.00 figure.

To the upside, the AUD/JPY first resistance would be the January 10 daily high at 83.36. A clear break above it would expose a four-month-old downslope trendline drawn, from October 2021 highs, near the psychological 84.00 area.

AUD/JPY

Overview
Today last price	83.13
Today Daily Change	-0.36
Today Daily Change %	-0.43
Today daily open	83.49

Trends
Daily SMA20	82.79
Daily SMA50	82.4
Daily SMA100	82.29
Daily SMA200	82.65

Levels
Previous Daily High	83.68
Previous Daily Low	83.03
Previous Weekly High	84.3
Previous Weekly Low	82.64
Previous Monthly High	83.76
Previous Monthly Low	78.79
Daily Fibonacci 38.2%	83.43
Daily Fibonacci 61.8%	83.28
Daily Pivot Point S1	83.12
Daily Pivot Point S2	82.75
Daily Pivot Point S3	82.48
Daily Pivot Point R1	83.77
Daily Pivot Point R2	84.05
Daily Pivot Point R3	84.41

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.

GBP/USD keeps the firm tone above 1.3600

GBP/USD clings to its daily gains, although it gives back some of them and recedes toward the 1.3630-1.3620 band on Thursday. Cable’s uptick comes despite the modest bounce in the Greenback, while investors gear up for key data releases on the UK calendar on Friday.

EUR/USD treads water near 1.1670

EUR/USD gives away all its initial gains and receded to the sub-1.1700 region. The US Dollar’s late recovery has dragged the pair lower, leaving it practically unchanged following the NA session on Thursday. In the meantime, investors gear up for the release of preliminary S&P Global Manufacturing and Services PMIs on both sides of the Atlantic on Friday.

Gold trims losses, back above $4,500

Gold manages to regain some composure and reclaim the area beyond the key $4,500 mark per troy ounce on Thursday. The yellow metal’s daily decline comes amid the humble improvement in the US Dollar while US Treasury yields remain on the rise following Wednesday’s marked retracement across the curve.

XRP extends rally as bullish technical signals underpin breakout attempt

Ripple holds in bullish hands, as price action extends above $1.16 at the time of writing on Thursday. Since Monday, the cross-border remittance token has surged by more than 20%, reflecting a steady growth in risk-on sentiment. The broader crypto market sentiment is on an upward roll at 62 in the Greed territory on Thursday, up from 46 the previous day, according to the Fear & Greed Index.

Why long bonds have repriced the cost of money

The 30-year Treasury is 12 basis points below its highest level since before the financial crisis. Not its highest since 2023, or since the tightening cycle, but since June 12, 2007, the last time the longest bond in the world's deepest market yielded what it yields on Thursday. Getting there took two attempts and most of the year.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.