AUD/JPY Price Analysis: Sellers regain control, bearish momentum still weak

AUD/JPY fell after a two-day winning streak, trading near the 93.60 zone ahead of the Asian session.
While selling pressure resumed, the MACD indicates a decline in bearish momentum, leaving the short-term outlook uncertain.

Patricio Martín FXStreet

The AUD/JPY pair retreated on Thursday ahead of the Asian session, giving up gains from the previous two sessions as sellers regained control. The pair moved lower toward the 93.60 region, reflecting renewed downside pressure, although technical indicators suggest the bearish bias could be losing steam.

The Relative Strength Index (RSI) remains in negative territory and is declining, confirming the downward movement. However, the Moving Average Convergence Divergence (MACD) indicator is printing decreasing red bars, hinting at fading selling pressure. This suggests that while bears remain active, the momentum could be softening, making the short-term outlook uncertain.

Looking at key levels, immediate support emerges near 93.50, with a break below this mark opening the door for a deeper decline toward 93.00. On the flip side, initial resistance is found at 94.00, followed by the 20-day Simple Moving Average (SMA) around 94.30, which could cap any recovery attempts.

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.

EUR/USD holds above 1.1750 after mixed EU PMI data

EUR/USD manages to hold above 1.1750 but struggles to gather recovery momentum on Friday, following the mixed February PMI figures from Germany and the Eurozone. In the second half of the day, Q4 GDP, December inflation and February PMI data from the US will be watched closely by market participants.

GBP/USD recovers further toward 1.3500 after UK PMI data

GBP/USD is recovering ground further toward 1.3500 in European trading on Friday, helped by a modest uptick in the Pound Sterling after stronger-than-expected UK January Retail Sales and February PMI data. However, the pair's further upside could be limited amid persistent US Dollar strength as the focus turns to key US data.

Gold sticks to positive bias above $5,000 ahead of US data

Gold gains some positive traction for the third consecutive day on Friday. holding above $5,000. Traders now look forward to the key US macro releases – the Advance Q4 GDP report and the Personal Consumption Expenditures (PCE) Price Index – for fresh trading impetus.

US GDP growth expected to slow down significantly in Q4 after stellar Q3

The United States Bureau of Economic Analysis will publish the first preliminary estimate of the fourth-quarter Gross Domestic Product at 13:30 GMT. Analysts forecast the US economy to have expanded at a 3% annualized rate, slowing down from the 4.4% growth posted in the previous quarter.

Iran tensions and AI fears at the forefront ahead of key US data

Thursday’s scorecard shows major US Stock benchmarks closed modestly in the red amid mounting US-Iran tensions and AI disruption worries. The S&P 500 shed 19 points (0.3%) to 6,861, the Nasdaq 100 lost 101 points (0.4%) to 24,797, and the Dow Jones Industrial Average dropped 267 points (0.5%) to 49,395.

Official Trump price approaches breakout with mixed signals from traders

Official Trump (TRUMP) is trading at $3.50 at the time of writing, approaching its upper consolidation range. A breakout from this range could open the door for an upside move. On-chain data shows market indecision, with balanced flows between bulls and bears, signaling a lack of clear directional bias.