- The Aud/JPy was quoting around the 95.00 area before the Asian session, registering a slight decrease.
- After failing to keep the profits about 96.00, the pair retreated but remains above the 20 -day SMA, maintaining the positive perspective.
- Merchants must monitor if the RSI crosses below 50, which could indicate a change in the impulse.
The AUD/JPY fell slightly on Tuesday before the Asian session, retreating below 95.00 after reaching resistance near the 96.00 zone. Despite the setback, the torque is still above its single mobile (SMA) of 20 days, maintaining the wider trend inclined upward.
Technically, the relative force index (RSI) has fallen abruptly but remains in positive territory in 54. A fall below the 50 mark could point out a possible change in feeling. Meanwhile, the indicator of convergence/divergence of mobile socks (MACD) continues to print growing green bars, suggesting that the bullish impulse is maintained for now.
Looking forward, immediate support is found in the 20 -day SMA, while a stronger demand could arise about 94.50. On the positive side, the resistance is observed around 96.00, where sellers have consistently limited the profits. If the pair manages to recover this level, a greater rise towards 97.00 could be at stake.
AUD/JPY DAILY GRAPH
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
