Published: 2025-05-06T06:40:41.000Z
Chart AUD/JPY Update: Settling back from test of July trendline
Technical Analyst
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Settled back in consolidation following test of the trendline from the July high at 93.55
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 95.50 | ** | Dec low | S1 | 92.00 | * | Mar low | |
| R3 | 94.20 | * | 50% Nov/Apr fall | S2 | 91.40 | * | 15 Apr high | |
| R2 | 94.00 | * | congestion | S3 | 90.10/00 | ** | Aug low, congestion | |
| R1 | 93.55 | * | Jul trendline | S4 | 88.28 | 11 Apr low |
Asterisk denotes strength of level
06:30 GMT - Settled back in consolidation following test of the trendline from the July high at 93.55. Pullback from the latter see prices unwinding overbought intraday and daily studies and see room to support at the March low at 92.00 and extending to the 91.40, 15 April high. Would take break of these to return focus to the downside for retest of the 90.00 level. Meanwhile, break above the 93.55 high will see room for stronger gains to retrace the November/April losses to the 94.00/20 congestion and 50% Fibonacci level.