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5 Jan 2024

AUD/JPY Price Analysis: Wraps the week with solid gains above 97.00

  • AUD/JPY sees slight 0.24% increase, maintaining position near Ichimoku Cloud, signaling potential market shifts.
  • For continued upward trajectory, the pair needs to breach December's high of 97.59, eyeing 98.00 and last year's peak at 98.58.
  • Downside risks include support levels at 96.83, Tenkan-Sen at 96.71, and possible retreat to 95.90.

The AUD/JPY is set to finish the week with gains of close to 1.20%, though it remains at the brisk of getting back inside the Ichimoku Cloud (Kumo), which could pave the way for a pullback. At the time of writing, the pair trades at 97.20, posting modest gains of 0.24% after hitting a daily low of 96.83.

The cross rallied above the Kumo, opening the door for further upside, with buyers leaning on the top, with first support at 97.07. If buyers would like to drive prices higher, they need to reclaim December’s high of 97.59, which, once cleared, could pave the path toward 98.00. Once surpassed, up next would be last year’s high at 98.58.

On a bearish resumption, AUD/JPY sellers must drag prices below 97.00, toward the first support level seen at the November 21 low of 96.83. Once surpassed, the Tenkan-Sen would be up next at 96,71, followed by 96.18, January’s 4 swing low. If bulls could not cap the downtrend, the pair could retrace the current week’s gains and open the door for additional losses below the Kijun-Sen at 95.90.

AUD/JPY Price Action – Daily Chart

AUD/JPY Technical Levels

 

Jan 5, 2024

USD/JPY churns near 145.00 in post-NFP turbulence, set to end Friday where it started

The USD/JPY spiked to a near-term high at the 146.00 handle early Friday in the broad-market run-up to the US Nonfarm Payrolls release, which surged above market forecasts and sent the US Dollar (USD) back down against the Japanese Yen (JPY) as markets weighed odds of Federal Reserve (Fed) rate cuts in the face of a still-firm US labor market.
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Jan 5, 2024

NZD/JPY nudges upwards and hits one-month high

In Friday's session, the NZD/JPY pair traded up to a high of 90.50, its highest since early December, and then consolidated towards 90.30, marking a gain of 0.25%.
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