AUD/JPY Price Analysis: Slumps below 94.00 after reaching weekly highs nearby 95.00

AUD/JPY faces resistance from Tenkan and Kijun-Sen lines, currently trading just above at 93.93.
Downside potential targets include the bottom of the Ichimoku Cloud at 93.45 and the 93.00 psychological level.
On the upside, reclaiming 94.00 could see challenges at the August 15 high (94.86) and the Kumo top near 95.00/05.

Christian Borjon Valencia FXStreet

The AUD/JPY retraces from weekly highs reached during Tuesday’s session at around 94.86, prolonging its losses after cracking a five-month-old upslope support trendline that intersects with the 94.00 mark. At the time of writing, the AUD/JPY is trading at 93.93, down by a minimal 0.01%.

AUD/JPY Price Analysis: Technical outlook

The daily chart portrays the AUD/JPY pair as subdued, capped on the downside by the Tenkan and Kijun-Sen lines at 93.92 and 93.82. If AUD/JPY slides past that area, the next support will emerge at the bottom of the Ichimoky Cloud (Kumo) at 93.45 before challenging 93.00.

Conversely, if AUD/JPY buyers reclaim the 94.00 figure, the first resistance would be the August 15 high of 94.86 ahead of testing the top of the Kumo at around 95.00/05. Once cleared, the next resistance would emerge at 95.83, the July 31 daily high.

AUD/JPY Price Action - Daily chart

AUD/JPY

Overview
Today last price	93.94
Today Daily Change	-0.48
Today Daily Change %	-0.51
Today daily open	94.42

Trends
Daily SMA20	94.38
Daily SMA50	94.97
Daily SMA100	92.61
Daily SMA200	91.91

Levels
Previous Daily High	94.44
Previous Daily Low	93.58
Previous Weekly High	94.94
Previous Weekly Low	92.9
Previous Monthly High	96.84
Previous Monthly Low	91.79
Daily Fibonacci 38.2%	94.11
Daily Fibonacci 61.8%	93.91
Daily Pivot Point S1	93.85
Daily Pivot Point S2	93.28
Daily Pivot Point S3	92.98
Daily Pivot Point R1	94.72
Daily Pivot Point R2	95.02
Daily Pivot Point R3	95.59

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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