- The Aud/JPY remains stable at 96.16 while the Australian dollar fails to capitalize on the appetite for risk.
- The figure of 96.00 remains a critical support; A rupture below could trigger a 95.50 and 95.00 test.
- The bullish potential needs to recover 96.50 to challenge 97.00 and July maximum in 97.43.
The AUD/JPY is consolidated below level 97.00 on Tuesday, after the publication of the first electoral results in Japan. Although the appetite for the risk was optimistic, the Australian dollar failed to gain traction and is down at the beginning of the week. At the time of writing, the par is quoted at 96.16, practically unchanged.
Aud/JPY price forecast: technical perspective
Although the pair fell on Monday, it remains above the figure of 96.00, considered as the last line of defense for the bullies, before clearing the path to the confluence of the 20 and 50 days Smas around 95.73/62.
The relative force index (RSI) indicates that buyers are losing some impulse, although the RSI remains bullish. Therefore, in the short term, a downward movement is expected before the upward trend resumes.
If the AUD/JPY falls below 96.00 and below the confluence of the Smas of 20 and 50 days, then level 95.50 would be as follows. A rupture of the latter will expose level 95.00, followed by the 100 -day SMA in 94.35.
With a greater impulse, if the AUD/JPY exceeds the figure of 96.50, a movement towards 97.00 is in the letters. Key resistance levels are above 97.43, the maximum of July 15, followed by the figure of 98.00.
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 Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.00% | 0.02% | 0.04% | -0.02% | 0.04% | 0.00% | 0.03% | |
| EUR | -0.01% | 0.04% | 0.05% | -0.01% | 0.03% | 0.07% | 0.04% | |
| GBP | -0.02% | -0.04% | 0.02% | -0.04% | -0.01% | -0.03% | 0.00% | |
| JPY | -0.04% | -0.05% | -0.02% | -0.04% | -0.01% | 0.03% | -0.08% | |
| CAD | 0.02% | 0.01% | 0.04% | 0.04% | 0.03% | 0.02% | 0.05% | |
| Aud | -0.04% | -0.03% | 0.00% | 0.01% | -0.03% | -0.00% | -0.03% | |
| NZD | 0.00% | -0.07% | 0.03% | -0.03% | -0.02% | 0.00% | -0.02% | |
| CHF | -0.03% | -0.04% | -0.00% | 0.08% | -0.05% | 0.03% | 0.02% |
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.
