- AUD/JPY decreased from the Asian season, extended the streak of its defeat for two days and traded near the 93.00 area.
- Selling the speed seems to disappear, with technical indicators suggests that bulls may try a rebound or start movement in a side.
The AUD/JPY pair experienced losses for the second consecutive day after landing at around 93.30 on Friday, as sellers maintained control and reduced prices. Regardless of the recession pressure, the bottom speed has shown signs of ease, pointing to a possible stabilization or even a near-term bounce.
The relative power index (RSI) is built in a negative area, but is only mildly decreasing, suggesting that the selling pressure may not be acute like previous sessions. Meanwhile, the moving average convergence deviation (MACD) continues to print the declining red bars, indicating that the negative motion is losing steam. This technical setup can open the door for potential recovery or at least a consolidation phase before the next directional move.
On the technical front, 92.80 zones are being supported, with a strong floor at 92.50. The 20-day simple moving average (SMA), located at 95.00, represents a major resistance point. A brake above this level can move the approach to the favor of buyers, while the failure to re -achieve the ground can result in continuous pressure towards the 92.00 handle.
AUD/JPY Daily Chart
AUD/JPY Daily Chart
