Chart AUD/JPY Update: Weighing on the 94.00/93.60 support
Prices remains under pressure and break of the 94.30 low extend losses to reach 94.00/93.60 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 97.00/33 | ** | congestion, 12 Feb high | S1 | 94.00 | * | congestion | |
| R3 | 96.00 | * | congestion | S2 | 93.60 | ** | Sep low | |
| R2 | 95.50 | * | Dec low | S3 | 92.00 | * | congestion | |
| R1 | 95.00 | * | congestion | S4 | 90.12 | ** | Aug 2024 year low |
Asterisk denotes strength of level
07:45 GMT - Prices remains under pressure and break of the 94.30 low extend losses from the 97.33 February bounce high to reach the 94.00/93.60 support. Oversold intraday and daily studies suggest reaction likely but consolidation here expected to give way to fresh selling pressure later. Lower will extend the broader losses from the November high and see room for deeper pullback 93.00/92.00 congestion area. Below these will turn focus to 90.15, August 2024 year low. Meanwhile, resistance is lowered to the 95.00/95.50 congestion and December low which is expected to cap and sustain losses from the strong resistance at the 99.00, January high.