- AUD/JPY continues its losing streak due to a strengthening bearish bias.
- A corrective bounce could be indicated if the 14-day RSI falls below the 30 level.
- The currency cross could navigate the region around its four-month low of 93.59.
The AUD/JPY cross extends its losing streak for the fifth consecutive day, trading around 98.40 during European hours on Wednesday. The 14-day Relative Strength Index (RSI) is currently above 30, indicating a bearish trend in the market. If the RSI falls below 30, it would signal an oversold condition, which could lead to a corrective bounce.
Furthermore, an analysis of the daily chart suggests that the nine-day exponential moving average (EMA) crosses below the 50-day EMA, suggesting a bearish signal. This crossover indicates that short-term momentum is weakening relative to the longer-term trend, which could mean continued price weakness.
On the downside, the main support for the AUD/JPY cross lies around the psychological level of 97.00, followed by the next support at the 96.00 level. A decisive break below the latter could open the doors for the currency cross to navigate the region around its four-month low of 93.59, recorded on September 11.
To the upside, the AUD/JPY cross could test the main resistance around the nine-day EMA at the 99.92 level, followed by the 50-day EMA at the 100.09 level. A break above these levels could weaken the bearish bias, potentially pushing the currency cross towards the four-month high of 102.41, reached on November 7.
AUD/JPY: Daily chart
Australian Dollar PRICE Today
The table below shows the percentage change of the Australian Dollar (AUD) against major currencies today. Australian dollar was the weakest currency against the New Zealand dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.33% | -0.31% | -0.88% | -0.07% | -0.36% | -0.99% | -0.41% | |
| EUR | 0.33% | 0.00% | -0.56% | 0.25% | -0.04% | -0.66% | -0.05% | |
| GBP | 0.31% | -0.01% | -0.57% | 0.24% | -0.04% | -0.67% | -0.09% | |
| JPY | 0.88% | 0.56% | 0.57% | 0.81% | 0.52% | -0.11% | 0.48% | |
| CAD | 0.07% | -0.25% | -0.24% | -0.81% | -0.30% | -0.92% | -0.33% | |
| AUD | 0.36% | 0.04% | 0.04% | -0.52% | 0.30% | -0.62% | -0.05% | |
| NZD | 0.99% | 0.66% | 0.67% | 0.11% | 0.92% | 0.62% | 0.58% | |
| CHF | 0.41% | 0.05% | 0.09% | -0.48% | 0.33% | 0.05% | -0.58% |
The heat map shows percentage changes for major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the box will represent AUD (base)/USD (quote).
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.
