- The Aud/JPY fell after a two -day winning streak, quoting near zone 93.60 before the Asian session.
- While the sales pressure resumed, the MACD indicates a decrease in the bassist impulse, leaving the uncertain short term perspective.
The Aud/JPY pair retreated Thursday before the Asian session, giving profits from the two previous sessions as the sellers recovered control. The torque moved down to the 93.60 region, reflecting a renewed downward pressure, although the technical indicators suggest that the bearish trend could be losing strength.
The relative force index (RSI) remains in negative territory and is in decline, confirming the downward movement. However, the indicator of convergence/divergence of mobile socks (MACD) is printing decreasing red bars, which suggests a decrease in sales pressure. This suggests that, although bassists are still active, the impulse could be softening, making the short -term perspective uncertain.
Looking at the key levels, the immediate support appears about 93.50, with a break below this level by opening the door to a deeper decline around 93.00. On the other hand, the initial resistance is found in 94.00, followed by the simple mobile average (SMA) of 20 days around 94.30, which could limit any attempt at recovery.
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.
