AUD/JPY Price Analysis: dropping from 94.80 with further downside on the books

The AUD/JPY wobbled on Thursday, dipping from the open before staging a relief rally into 95.15.
The Aussie is falling back once more, settling Thursday's trading session close to where it started.
A bearish lean is baked into the candles heading into Asia's early market window.

Joshua Gibson FXStreet

The AUD/JPY kicked off Thursday trading at 94.85 before dropping into an early low of 94.31. The Aussie (AUD) then rallied against the Japanese Yen (JPY), ticking into 95.16 before seeing an intraday rejection of the 200-hour Simple Moving Average (SMA) near 95.05.

Daily candlesticks have the AUD/JPY stuck firmly in familiar congestion, with the pair trading in a constrained channel from 93.00 to 96.00 since running up the charts into 97.67 in June.

The medium-term trend is firmly planted in the midrange, with prices continuing to cycle around the 50-day SMA, with the 200-day SMA buoying bids from 92.62, providing technical support for any shifts to the downside.

AUD/JPY Hourly Chart

AUD/JPY Daily Chart

AUD/JPY Technical Levels

AUD/JPY

Overview
Today last price	94.76
Today Daily Change	-0.24
Today Daily Change %	-0.25
Today daily open	95

Trends
Daily SMA20	95.12
Daily SMA50	94.64
Daily SMA100	94.73
Daily SMA200	92.57

Levels
Previous Daily High	95.66
Previous Daily Low	94.84
Previous Weekly High	95.83
Previous Weekly Low	94.05
Previous Monthly High	96.92
Previous Monthly Low	93.59
Daily Fibonacci 38.2%	95.15
Daily Fibonacci 61.8%	95.35
Daily Pivot Point S1	94.67
Daily Pivot Point S2	94.34
Daily Pivot Point S3	93.84
Daily Pivot Point R1	95.5
Daily Pivot Point R2	95.99
Daily Pivot Point R3	96.32

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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