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AUD/JPY Price Analysis: Surpasses Ichimoku Cloud, struggles at 96.00 with bears looming

  • AUD/JPY advanced sharply on Monday and broke above the Kumo.
  • Even though the cross shifted neutral-upwards, downside risks remain.
  • Upwards above 96.00, as bulls target 97.00; otherwise, bears will step in and push prices towards 95.00.

On Monday, the AUD/JPY climbed 0.73% amidst a risk-on impulse as portrayed by Wall Street printing solid gains. The cross-pair breached the Ichimoku Cloud (Kumo), turning neutral bullish biased, but needs to reclaim the November 30 latest cycle low of 97.23 before cementing the uptrend. At the time of writing, the pair is trading at 95.96, almost flat as Tuesday’s Asian session begins.

The AUD/JPY daily chart sees the pair as neutral to bullish biased but facing strong resistance at around the 96.00 figure. Once cleared, the next stop would be the Kijun-Sen at 96.14, followed by the December 7 high at 96.49, ahead of the 97.00 mark.

On the other hand, if the uptrend stalls at 96.00, that could pave the way for further losses. The first support would be the Senkou Span B at 95.80, followed by the bottom of the Kumo at 95.25/35. Once that area Is surpassed, bears could accelerate the downtrend towards the December 8 low of 94.17, and the December 7 low of 93.70.

AUD/JPY Price Analysis – Daily Chart

AUD/JPY Technical Levels

AUD/JPY

Overview
Today last price95.99
Today Daily Change0.61
Today Daily Change %0.64
Today daily open95.38
 
Trends
Daily SMA2097.37
Daily SMA5096.22
Daily SMA10095.34
Daily SMA20093.54
 
Levels
Previous Daily High95.6
Previous Daily Low94.17
Previous Weekly High97.98
Previous Weekly Low93.73
Previous Monthly High98.66
Previous Monthly Low95.61
Daily Fibonacci 38.2%95.05
Daily Fibonacci 61.8%94.72
Daily Pivot Point S194.5
Daily Pivot Point S293.62
Daily Pivot Point S393.07
Daily Pivot Point R195.93
Daily Pivot Point R296.48
Daily Pivot Point R397.35

Author

Christian Borjon Valencia

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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