- Aud/JPY moved down before the Asian session, its losing plan extends to two days and trades near the 93.00 region.
- The momentum of the sale seems to fade, as technical indicators indicate that the bulls may try to recover or start a side movement.
Aud/JPY pair witnessed a second consecutive day of the losses on Friday, reaching about 93.30, as the sellers kept controlling and paying prices. Despite the declining pressure, the landfill has shown signs of mitigation, hinting to possible stability or even bounce on the near period.
The RSI indicator remains in negative lands, but it only decreases moderate, indicating that the pressure pressure may not be severe like previous sessions. Meanwhile, MACD continues to print the decreasing red bars, indicating that the passive momentum loses steam. This technical setting can open the door for a possible recovery or at least a standardization stage before the next directional movement.
On the technical front, the support is formed near the 92.80 region, with a stronger floor at 92.50. The simple moving average for 20 days (SMA), located in 95.00, represents a large resistance point. The lounge above this level may turn expectations for buyers, while failure to restore the land may lead to the continued pressure towards the 92.00 handle.
Aud/JPY Daily Chart
Aud/JPY Daily Chart