- Analytics
- News and Tools
- Market News
- AUD/JPY Price Analysis: Further upside hinges on 83.40 break
AUD/JPY Price Analysis: Further upside hinges on 83.40 break
- AUD/JPY stays sidelined after refreshing the monthly high.
- Clear upside break of 50-DMA, firmer RSI hint at further advances of the quote.
- Late November swing highs challenge bulls, 100-DMA restricts the bear’s entry.
AUD/JPY bulls take a breather after renewing the monthly top near 83.20 during early Tuesday’s Asian session.
The cross-currency pair’s upside momentum gains support from the first daily closing beyond the 50-DMA in over a month and firmer RSI line, not overbought. However, tops marked during late November, around 83.40, seem to restrict the quote’s additional run-up.
Should the quote rises past 83.40, the 84.00 threshold and mid-November’s high near 84.15 will be in focus ahead of late October’s bottom of 84.60.
Meanwhile, pullback moves remain elusive until staying beyond the 50-DMA and the 200-DMA levels, respectively near 82.80 and 82.60.
Even so, the 100-DMA and 61.8% Fibonacci retracement of August-October upside, close to 81.90 and 81.10 in that order, will test the AUD/JPY bears before giving them the controls.
AUD/JPY: Daily chart
Trend: Further upside expected
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
