Stays on the way to two-month-old support despite bouncing off 95.00

AUD/JPY picks up bids from intraday low after China’s mixed inflation data. Overbought RSI, failure to rebound from April’s top favor sellers. Ascending trend line from late March, 92.20-10 support confluence act as extra filters. AUD/JPY licks its wounds around 95.25 after posting the biggest daily fall in three weeks. The cross-currency pair’s latest rebound … Read more

Bulls struggle to defend 96.00 inside weekly rising channel

AUD/JPY pauses seven-day uptrend around the highest levels since 2015. Overbought RSI, nearness to the bullish channel’s resistance challenge further upside. Sellers need clear break of 94.70 for entry. AUD/JPY retreats to 96.00, after refreshing a seven-year high the previous day, as buyers take a breather inside the weekly ascending channel during Wednesday’s Asian session. … Read more

AUD/JPY bulls staying with the course and eye higher highs in the strong bull cycle

The price is running into monthly resistance but prior highs near 102.80 will be eyed if the bulls stay with the course. The yen is suffering a central bank diversion blow and a potential paradigm shift. At 95.89, AUD/JPY is strong and rising over 1% on the day following a surprise move and hawkishness from … Read more

AUD/JPY declines towards 94.00 on positive PMI data, RBA in focus

AUD/JPY is scaling lower towards 94.00 as the release of the PMI data advocated long-liquidations. The anxiety over the interest rate decision by the RBA has inserted volatility into the counter. A rate hike by 25 bps is expected from the RBA next week. The AUD/JPY pair has witnessed selling pressure after failing to sustain … Read more

AUD/JPY climbs towards the 50-DMA, shy of the 92.00 mark, ahead of Aussie/Japanese data

The AUD/JPY begins the week on the right foot, gaining 0.97%. Risk-on market mood and China’s possible lockdowns lifting, cheered by investors. AUD/JPY Price Forecast: To remain upward biased, but struggling around 92.00, might open the door for a pullback towards 90.00. The Australian dollar is extending its rally for the third consecutive day as … Read more

Retreats from weekly highs around 91.00, as bulls prepare an assault towards 93.00

The AUD/JPY is recording gains of 0.17% during the week. Despite an upbeat market sentiment, the AUD/JPY failed to break above crucial resistance above 91.72. AUD/JPY Price Forecast: Range-bound in a congestion area, preceded by an uptrend; an upward break looms. The AUD/JPY barely moves as the Asian Pacific session begins, though on Thursday ended … Read more

AUD/JPY retreats towards 90.00 on downbeat Aussie data

AUD/JPY extends pullback from daily top, reverses the previous day’s bounce off weekly low. Australia’s Q1 Private Capital Expenditure disappoints, cautious optimism in the market puts a floor under the prices. Fed Minutes renew market’s optimism but headlines from China, Ukraine test the bulls. AUD/JPY takes offers to renew intraday low around 90.10, reversing the … Read more