- The Aud/JPY falls 0.25% on Thursday, extending the setback below 94.00 per second consecutive session.
- The bearish enveloping pattern weighed on the price, but the RSI remains above 50 suggests that the downward impulse is weakening.
- The first resistance is aligned at 94.00; A break could expose 95.00 and May peak at 95.63.
- The support is observed in Senkou Span A (93.51), followed by Tenkan-Sen (93.39) and the psychological level of 93.00.
The Aud/JPY retreated for the second consecutive day, remained below the 94.00 figure and recorded 0.25% losses on Thursday. At the time of writing, the pair is negotiated in 93.66, practically unchanged.
Aud/JPY price forecast: technical perspective
The Aud/JPY pair formed a sail pattern ‘Bassist envelope’, which led to the torque to go towards its weekly minimum of 93.22 on June 12 before recovering some land. The Relative Force Index (RSI) seems to have touched back on its neutral 50 line, indicating that buyers are intervening. Therefore, an improvement in The appetite for risk and the weakness of the Japanese Yen (JPY) could send to the rise.
The first level of resistance would be the figure of 94.00. If it is exceeded, the following resistance would be 95.00, followed by the maximum daily of May 13 at 95.63. The following key resistance levels are 96.00 and the maximum of February 12, 97.32.
On the other hand, if the AUD/JPY falls below Senkou Span A in 93.51, the next level would be Tenkan-sen in 93.39, before the figure of 93.00.
AUD/JPY – DIARY PRICE GRAPH
Australian dollar price this week
The lower table shows the rate of change of the Australian dollar (AUD) compared to the main currencies this week. Australian dollar was the strongest currency against the US dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -1.66% | -0.65% | -0.98% | -0.68% | -0.53% | -0.79% | -1.39% | |
| EUR | 1.66% | 1.02% | 0.68% | 0.99% | 1.17% | 0.88% | 0.26% | |
| GBP | 0.65% | -1.02% | -0.23% | -0.02% | 0.16% | -0.14% | -0.75% | |
| JPY | 0.98% | -0.68% | 0.23% | 0.31% | 0.40% | 0.13% | -0.54% | |
| CAD | 0.68% | -0.99% | 0.02% | -0.31% | 0.13% | -0.11% | -0.72% | |
| Aud | 0.53% | -1.17% | -0.16% | -0.40% | -0.13% | -0.29% | -0.89% | |
| NZD | 0.79% | -0.88% | 0.14% | -0.13% | 0.11% | 0.29% | -0.61% | |
| CHF | 1.39% | -0.26% | 0.75% | 0.54% | 0.72% | 0.89% | 0.61% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the Australian dollar of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the Aud (base)/USD (quotation).
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.
