AUD/JPY PRICE ANALYSIS: REMAINS SUBDUED AMID RISING GEOPOLITICAL TENSIONS, BEARISH HARAMI LOOMS
- AUD/JPY holds steady as Tuesday’s Asian session unfolds, maintaining a near-flat trading position.
- Eyes on 95.55 for potential bullish continuation, while 95.00 poses a threat to ongoing stability.
- A breakthrough above 95.55 could unlock paths to September highs, with 97.00 in sight.
AUD/JPY resumed its uptrend on Monday but failed to crack last Friday’s high of 95.55 due to a risk-off impulse, given the resurgence of fights between Israel and Hamas after the latter delivered an attack during the Yom Kippur holidays. The AUD/JPY is trading at 95.16, almost flat as Tuesday’s Asian session begins.
The daily chart portrays the pair as neutral biased, though it formed a ‘bearish-harami’ two-candlestick pattern, which could open the door for further losses. Yet if AUD/JPY breaks above last Friday’s high of 95.55, that would open the door for further upside, exposing the September 29 daily high of 96.92. Once cleared, the 97.00 figure would be up for grabs.
Short term, the AUD/JPY is set to extend its gains, as price action is above the Ichimoku Cloud (Kumo) set to extend its gains. First, resistance would emerge at 95.55, followed by the 96.00 threshold. On the other hand, if the pair extend its losses below the intersection of the Kijun and Tenkan-Sen levels at around 95.00, that would exacerbate the AUD/JPY downtrend. First support would be the Senkou-Span B at 94.94, followed by the 94.68 mark and the October 6 daily low of 94.33
- AUD/JPY holds steady as Tuesday’s Asian session unfolds, maintaining a near-flat trading position.
- Eyes on 95.55 for potential bullish continuation, while 95.00 poses a threat to ongoing stability.
- A breakthrough above 95.55 could unlock paths to September highs, with 97.00 in sight.
AUD/JPY resumed its uptrend on Monday but failed to crack last Friday’s high of 95.55 due to a risk-off impulse, given the resurgence of fights between Israel and Hamas after the latter delivered an attack during the Yom Kippur holidays. The AUD/JPY is trading at 95.16, almost flat as Tuesday’s Asian session begins.
The daily chart portrays the pair as neutral biased, though it formed a ‘bearish-harami’ two-candlestick pattern, which could open the door for further losses. Yet if AUD/JPY breaks above last Friday’s high of 95.55, that would open the door for further upside, exposing the September 29 daily high of 96.92. Once cleared, the 97.00 figure would be up for grabs.
Short term, the AUD/JPY is set to extend its gains, as price action is above the Ichimoku Cloud (Kumo) set to extend its gains. First, resistance would emerge at 95.55, followed by the 96.00 threshold. On the other hand, if the pair extend its losses below the intersection of the Kijun and Tenkan-Sen levels at around 95.00, that would exacerbate the AUD/JPY downtrend. First support would be the Senkou-Span B at 94.94, followed by the 94.68 mark and the October 6 daily low of 94.33
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.