- The AUD/JPY remains stable at 94.65; A strong purchase support is observed in the 93.70–94.00 area.
- The RSI indicates a bullish impulse; The highest minimums point to a possible breakout above 95.00.
- A rupture below 93.98 risks a fall towards the trend line of 93.50/75, then the support of 93.00.
The Aud/JPY has continued to consolidate within the range of 93.70–95.00 during the last ten days of negotiation, in the middle of a mood of the fragile market promoted by US controversial policies of the US, the climbing and unfaired of the conflict in the Middle East, and the approval of the US fiscal budget of the US rates, has kept the cross -up negotiating at family levels. The pair is quoted at 94.65, practically unchanged.
Aud/JPY price forecast: technical perspective
The AUD/JPY has found a strong support near the figure of 93.70 – 94.00, with buyers buying the fall, since the mood of the market shows signs of improvement. Although the Bank of the Australian Reserve (RBA) is expected to cut the rates at 80 basic points according to the probabilities of interest rates (IRP), if the BOJ remains neutral, a greater bullish potential for the pair is expected.
From a technical perspective, the AUD/JPY seems to be prepared to test higher prices in the short term. The relative force index (RSI) is upward, while the price action shows a series of higher minimums, despite lacking higher maximums, which could pave the way to challenge the figure of 95.00. A rupture of this last will expose the maximum of April 2, 95.30, followed by the maximum of May 13, 95.64. Additional profits are above 96.00, with buyers pointing to the maximum of the year until 99.15.
On the contrary, a reversal that leads to the AUD/JPY below the minimum of June 30, 93.98 could sponsor a fall to challenge a line of support trend of seven months about 93.50/75. If it breaks, the next low level is 93.00.
AUD/JPY – DIARY PRICE GRAPH
Australian dollar price this month
The lower table shows the percentage of change of the Australian dollar (AUD) compared to the main currencies this month. Australian dollar was the strongest currency against the US dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -3.51% | -1.77% | -0.09% | -1.45% | -2.04% | -2.19% | -3.64% | |
| EUR | 3.51% | 1.82% | 3.50% | 2.16% | 1.55% | 1.69% | -0.16% | |
| GBP | 1.77% | -1.82% | 1.66% | 0.31% | -0.25% | -0.29% | -1.92% | |
| JPY | 0.09% | -3.50% | -1.66% | -1.35% | -1.87% | -1.95% | -3.49% | |
| CAD | 1.45% | -2.16% | -0.31% | 1.35% | -0.52% | -0.62% | -2.22% | |
| Aud | 2.04% | -1.55% | 0.25% | 1.87% | 0.52% | 0.14% | -1.66% | |
| NZD | 2.19% | -1.69% | 0.29% | 1.95% | 0.62% | -0.14% | -1.80% | |
| CHF | 3.64% | 0.16% | 1.92% | 3.49% | 2.22% | 1.66% | 1.80% |
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.
