- It was observed that the AUD/JPY was quoted around the 93.70 area before the Asian session, marking its second consecutive daily fall.
- The pair has fallen below the 20 -day SMA in 94.00, pointing out a possible change in feeling.
- The RSI has fallen below the 50 threshold, reinforcing the bearish perspective and suggesting greater downward pressure.
The AUD/JPY extended its losses on Thursday before the Asian session, falling below the key level of 94.00 as the sales pressure intensified. This marks the second consecutive session in red, with technical indicators pointing towards greater weakness.
The relative force index (RSI) has now fallen below the 50 -year threshold, confirming a change towards bearish territory. Meanwhile, the indicator of convergence/divergence of mobile socks (MACD) is printing flat green bars, indicating a lack of strong impulse by buyers.
With the par quoting below 94.00, the next key support is around the 93.20 zone, where buyers could try to stabilize the fall. A rupture below this level could expose a higher decline towards the 92.50 zone. On the other hand, the immediate resistance is observed in 94.50, followed by a stronger resistance about 95.00.
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.
