Published: 2024-11-08T08:09:13.000Z
Chart AUD/JPY Update: Lower in consolidation from 102.40 high
Technical Analyst
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Break above the 101.70 October high has seen extension to reach the 102.40 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 104.80 | * | 76.4% Jul/Aug fall | S1 | 100.80 | * | congestion | |
| R3 | 104.00 | ** | 22 Jul low, congestion | S2 | 99.85 | ** | 2 Sep high | |
| R2 | 103.00 | * | congestion | S3 | 99.55 | * | 31 Oct low | |
| R1 | 102.60 | * | Jun low | S4 | 99.00 | * | congestion |
Asterisk denotes strength of level
08:00 GMT - Break above the 101.70 October high has seen extension to reach the 102.40 high before settling back to consolidate rally from the 99.55 low of last week. However, the daily studies are still tracking higher and further gains not ruled out. Higher will see room to the 102.60 resistance then the 103.00 congestion. Meanwhile, support is raised to the 101.00/100.80 congestion which now underpin. Would take break here to open up deeper pullback to the 100.00/99.85 area then the 99.55 low. Break of the latter will return focus to the downside to see deeper retracement of gains from the 94.00/93.60, September lows.