AUD/JPY Price Analysis: Slides to 12-day-old support near 94.50 on mixed Aussie data


  • AUD/JPY drops to key support line on mixed data, takes offer of late.
  • Sustained break of 200-HMA favor sellers to break nearby support.
  • Weekly low lures intraday bears, buyers need validation from 95.70.

AUD/JPY takes offers to renew intraday low around 94.50 after mixed Aussie data favored bears during Thursday’s Asian session.

Australia’s preliminary Retail Sales for June eased while posting a 0.2% monthly growth compared to the market forecasts of 0.5% and 0.9% in previous readings. Further, the second quarter (Q2) Import Price Index and Export Price Index came in mixed as the former arrived better-than-expected 1.9% but the later data eased to 10.7% versus 19.7% expected and 18.0% forecasts.

In addition to the data, a clear downside break of the 200-HMA and bearish MACD signals also keep AUD/JPY bears hopeful.

That said, an upward sloping support line from July 12, at 94.50 by the press time, restricts the AUD/JPY pair’s immediate downside moves.

Following that, the weekly low of 93.89 and 61.8% Fibonacci retracement of the July 12-20 run-up near 93.40 will gain the market’s attention.

On the contrary, an upside break of the 200-HMA level near 94.90, needs validation from the 95.00 round figure to recall the AUD/JPY buyers.

Even so, the double-tops formation around 95.70-75 appears a tough nut to crack for the bulls.

AUD/JPY: Hourly chart

Trend: Further weakness expected

AUD/JPY

Overview
Today last price 94.55
Today Daily Change -0.91
Today Daily Change % -0.95
Today daily open 95.46
 
Trends
Daily SMA20 93.75
Daily SMA50 93.42
Daily SMA100 92.3
Daily SMA200 87.55
 
Levels
Previous Daily High 95.7
Previous Daily Low 94.75
Previous Weekly High 95.76
Previous Weekly Low 93.94
Previous Monthly High 96.88
Previous Monthly Low 91.97
Daily Fibonacci 38.2% 95.34
Daily Fibonacci 61.8% 95.11
Daily Pivot Point S1 94.91
Daily Pivot Point S2 94.36
Daily Pivot Point S3 93.97
Daily Pivot Point R1 95.86
Daily Pivot Point R2 96.25
Daily Pivot Point R3 96.8

 

 

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