- The Aud/JPY moved down before the Asian session, extending its two -day loss streak and quoting near the 93.00 area.
- The sale impulse seems to be fading, with technical indicators suggesting that the bulls could try a rebound or start a lateral movement.
The Aud/JPY pair experienced a second consecutive losses on Friday, landing around 93.30, since the vendors kept control and brought down prices. Despite the bearish pressure, the downward impulse has shown signs of relaxation, insinuating a possible stabilization or even a short -term rebound.
The relative force index (RSI) remains in negative territory but is decreasing only slightly, suggesting that the sale pressure may not be as intense as in previous sessions. Meanwhile, the convergence/divergence indicator of mobile socks (Macd) continues to print decreasing red bars, indicating that the downward impulse is losing strength. This technical configuration could open the door to a possible recovery or at least a consolidation phase before the next directional movement.
In the Technical Front, support is being formed near the 92.80 area, with a stronger floor at 92.50. The simple mobile average (SMA), located at 95.00, represents an important resistance point. A rupture above this level could change the perspective in favor of buyers, while the lack of recovery could result in continuous pressure towards the 92.00 zone.
AUD/JPY DAILY GRAPH
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.
