AUD/JPY Technical Analysis: bumping back into 83.50 as the Aussie recovers

The Aussie surged against the safe-haven Yen late Wednesday as broader markets saw a recovery in risk appetite.
The AUD, heavily tied to metals prices, is seeing support from commodities as markets adjust to the hawkish outlook provided by the US' Fed head Powell.
The AUD/JPY is approaching a common consolidation point on the Daily candles, traders should be on the lookout for a rollover into a new leg lower.

Joshua Gibson FXStreet

AUD/JPY Chart, 15-Minute

Spot rate:	83.50
Relative change:	0.06%
High:	83.50
Low:	83.37

Trend:	Bullish

Support 1:	83.37 (current day low)
Support 2:	83.10 (61.8% Fibo retracement level)
Support 3:	82.83 (previous day low)

Resistance 1:	83.54 (previous day high)
Resistance 2:	83.67 (current week high)
Resistance 3:	83.98 (June 13th swing high)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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