AUD/JPY extends its losses to near 103.80 during European trading hours on Thursday.
AUD/JPY could test the key level of 104.00, followed by the upper boundary of the ascending triangle. The momentum indicator 14-day RSI suggeststhe confirmation of the bullish bias for the pair. The immediate support appears around the 14-day EMA at 103.63 and the lower threshold of the ascending triangle. However, the analysis of the daily chart indicates a bullish bias for the AUD/JPY pair, as it remains within an ascending triangle.
On the downside, the 14-day Exponential Moving Average at 103.62serves as immediate support for the AUD/JPY cross, followed by the lower threshold of the ascending triangle around the key level of 103.50. A break below the latter could lead the AUD/JPY cross to navigate the region around the psychological level of 100.00 and the throwback support at 99.93. Further decline could exert downward pressure on the cross, potentially driving it toward April's low of 97.78.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/JPY Price Analysis: Cross enters in consolidation phase, downturn likely momentaryIn Wednesday's session, the AUD/JPY pair displayed signs of correction, retreating to the 104.30 mark following an earlier surge to 104.90.
Read more »
AUD/JPY Price Analysis: Bulls display signs of fatigue, potential shift remains possibleIn Tuesday's session, the AUD/JPY pair continued to edge higher, securing some gains but at a seemingly slower pace, stabilizing around the 104.60 mark.
Read more »
AUD/JPY Price Analysis: Bulls maintain a positive stride, potential shift remains possibleIn Monday's session, the AUD/JPY pair managed to acquire supplementary momentum and saw some gains.
Read more »
AUD/JPY Price Analysis: Faces resistance at Tenkan-Sen, as buyers eye 103.00The AUD/JPY extends its gains for the fifth day in a row, climbs 0.30%, and trades at 102.35.
Read more »
AUD/JPY Price Analysis: Bulls regain momentum, eyeing 102.00The AUD/JPY climbed 0.87% on Monday amid an upbeat market mood, sponsored by increased odds the US Federal Reserve might cut rates sooner than expected.
Read more »
AUD/JPY Price Analysis: Bears in charge as pair dips toward 102.00The Aussie Dollar extends its losses against the Japanese Yen for the second straight day, following an intervention by the Bank of Japan (BoJ) on Monday, which kept the pair seesawing in the 101.37/104.95 range.
Read more »