The AUD/JPY pair is experiencing a persistent downtrend, reaching its lowest point in a year after Monday’s 2% decline. With key support at 93.00 and resistance at 95.00, traders are closely watching for potential market movements.
While the Relative Strength Index (RSI) suggests the pair is oversold and could see a short-term bounce, the Moving Average Convergence Divergence (MACD) indicates ongoing downward pressure. The current trading position below the 20, 100, and 200-day Simple Moving Averages (SMA) further confirms the bearish trend.
Analysis and Outlook
Investors should monitor the AUD/JPY pair closely, as a break below 93.00 could signal further declines towards the 92.00 level. On the upside, resistance at 95.00 – 96.00 may offer some relief, but a sustained breakout is needed for a more positive outlook.