AUD/JPY Price Forecast: Uptrend stalls near YTD high as RSI flattens
- AUD/JPY holds uptrend but stalls below 114.74 resistance.
- RSI flattens in bullish territory, signaling fading buyer momentum.
- Break below 114.00 exposes 113.63 and 112.77 supports.
The Australian Dollar registers modest gains of 0.14% against the Japanese Yen as improved risk appetite increased demand for riskier currencies, eroding the Yen's safe-haven status. At the time of writing, the AUD/JPY trades at 114.17, after reaching a daily low of 113.78.
AUD/JPY Price Forecast: Technical outlook
Price action shows the uptrend remains intact, but fears of a possible intervention in the FX markets to prop up the Yen are capping the advance.
Going upwards, the AUD/JPY's first key resistance area is the yearly peak at 114.74, which, once surpassed, opens the door to test 115.00. A breach of the latter will expose the 115.50 mark, followed by the psychological 116.00.
The Relative Strength Index (RSI), although bullish, has turned flat, an indication that buyers may be losing momentum. Hence, caution on the upside is warranted, as Japanese authorities might not hesitate to propel the Yen, an invitation for further downside on the cross-pair.
Downwards, the first support for AUD/JPY would be 114.00. Below this level, the next area of interest would be the 20-day SMA at 113.63, before it dives to the 50-day SMA at 112.77.
AUD/JPY Price Chart – Daily
Australian Dollar Price Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.10% | 0.40% | 0.24% | 0.07% | 0.08% | 0.62% | 0.35% | |
| EUR | -0.10% | 0.33% | 0.15% | -0.02% | 0.03% | 0.56% | 0.25% | |
| GBP | -0.40% | -0.33% | -0.19% | -0.35% | -0.31% | 0.22% | -0.06% | |
| JPY | -0.24% | -0.15% | 0.19% | -0.17% | -0.14% | 0.36% | 0.13% | |
| CAD | -0.07% | 0.02% | 0.35% | 0.17% | 0.04% | 0.56% | 0.29% | |
| AUD | -0.08% | -0.03% | 0.31% | 0.14% | -0.04% | 0.52% | 0.23% | |
| NZD | -0.62% | -0.56% | -0.22% | -0.36% | -0.56% | -0.52% | -0.26% | |
| CHF | -0.35% | -0.25% | 0.06% | -0.13% | -0.29% | -0.23% | 0.26% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
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.
