AUD/JPY Price Analysis: Bears take control as pair falls below 94.00
- AUD/JPY was seen trading around the 93.70 zone ahead of the Asian session, marking its second consecutive daily decline.
- The pair has slipped below the 20-day SMA at 94.00, signaling a potential shift in sentiment.
- The RSI has dropped below the 50 mark, reinforcing the bearish outlook and suggesting further downside pressure.
AUD/JPY extended its losses on Thursday ahead of the Asian session, dipping below the key 94.00 level as selling pressure intensified. This marks the second consecutive session in the red, with technical indicators pointing toward further weakness.
The Relative Strength Index (RSI) has now fallen below the 50 threshold, confirming a shift into bearish territory. Meanwhile, the Moving Average Convergence Divergence (MACD) is printing flat green bars, indicating a lack of strong momentum from buyers.
With the pair trading under 94.00, the next key support lies around the 93.20 area, where buyers could attempt to stabilize the decline. A break below this level could expose further downside toward the 92.50 zone. On the flip side, immediate resistance is seen at 94.50, followed by stronger resistance near 95.00.
AUD/JPY daily chart
Author
Patricio Martín
FXStreet
Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.
