Analyzing the AUD/JPY Pair Movement
- The AUD/JPY pair was observed near the 94.30 zone on Friday, showing a retreat towards the lower end of its daily range.
- Despite mixed signals from oscillators, the moving averages indicate a downward technical bias.
- Support levels are identified near 94.00 and 93.88, while resistance is noted just above 94.40, with indicators displaying a bearish inclination.
On Friday, the AUD/JPY pair experienced a decline, hovering around the 94.30 zone after the European session and moving closer to the lower end of its intraday range. This decline reflects an increase in selling interest, with broader technical signals favoring a bearish bias for the near term.
Indicator Analysis
Examining the indicators, the Relative Strength Index (RSI) dropped below 50 but remains neutral in tone. The MACD shows a slight buy signal, suggesting a potential short-term correction. However, the Bull Bear Power indicates underlying selling pressure, and the Williams Percent Range remains neutral without a clear reversal signal.
Moving Averages Overview
There is a mixed outlook from moving averages. The short-term 20-day Simple Moving Average (SMA) at 94.02 indicates a buy signal, providing dynamic support. On the other hand, the 10-day EMA (94.45) and SMA (94.58), alongside the 100-day (96.85) and 200-day (98.70) SMAs, lean bearish, suggesting limited upside potential unless a significant shift occurs.
Key Levels to Watch
Immediate support levels are identified at 94.16, followed by 94.02 and 93.88. In terms of resistance, key levels are situated around 94.35, 94.42, and 94.45—close to crucial short-term moving averages that could act as resistance zones if bulls attempt to take charge.
AUD/JPY Daily Chart
