- AUD/JPY could approach the psychological support level at 96.00.
- The bearish sentiment persists as the 14-day RSI continues below the 50 mark.
- The currency cross could retest the nine-day EMA at the 97.26 level.
The AUD/JPY cross halts its two-day winning streak, trading around 97.00 during Asian hours on Tuesday. The 14-day Relative Strength Index (RSI) remains slightly below the 50 level, indicating that bearish momentum is still in play. If the RSI rises above 50, it would signal the emergence of a bullish bias.
Furthermore, a review of the daily chart indicates that the AUD/JPY cross remains below the nine-day and 14-day EMAs. This suggests that the short-term price momentum is weaker compared to the long-term trend, pointing to the potential for continued price weakness.
Initial support for the AUD/JPY cross lies at the psychological level of 96.00, followed by the four-month low at 95.52. A break below this level could strengthen the bearish bias and push the currency cross to navigate the area around its five-month low at 93.59, recorded on September 11.
To the upside, the AUD/JPY cross could test its primary resistance at the nine-day EMA of 97.26, followed by the 50-day EMA at the 98.05 level. A decisive break above this level would signal a strengthening of near-term price momentum, potentially taking the currency cross towards the six-month high of 102.41, last reached on November 7.
AUD/JPY: Daily chart
Australian Dollar PRICE Today
The table below shows the percentage change of the Australian Dollar (AUD) against major currencies today. Australian dollar was the weakest currency against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.27% | 0.26% | -0.37% | 0.76% | 0.36% | 0.30% | 0.08% | |
| EUR | -0.27% | -0.01% | -0.60% | 0.49% | 0.09% | 0.03% | -0.20% | |
| GBP | -0.26% | 0.00% | -0.63% | 0.50% | 0.09% | 0.04% | -0.18% | |
| JPY | 0.37% | 0.60% | 0.63% | 1.12% | 0.71% | 0.64% | 0.43% | |
| CAD | -0.76% | -0.49% | -0.50% | -1.12% | -0.40% | -0.46% | -0.68% | |
| AUD | -0.36% | -0.09% | -0.09% | -0.71% | 0.40% | -0.06% | -0.27% | |
| NZD | -0.30% | -0.03% | -0.04% | -0.64% | 0.46% | 0.06% | -0.23% | |
| CHF | -0.08% | 0.20% | 0.18% | -0.43% | 0.68% | 0.27% | 0.23% |
The heat map shows percentage changes for major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the box will represent the AUD (base)/USD (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
