Published: 2025-03-06T07:08:50.000Z
Chart AUD/JPY Update: Extending corrective bounce
Technical Analyst
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Extending bounce from the 91.85 low as prices unwind the oversold intraday and daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 97.00/30 | ** | congestion, Feb high | S1 | 93.60/00 | * | Sep low, congestion | |
| R3 | 96.00/05 | ** | congestion, 17 Jan low | S2 | 91.85 | ** | 4 Mar YTD low | |
| R2 | 95.50 | * | Dec low | S3 | 90.12 | ** | Aug 2024 year low | |
| R1 | 95.00 | * | congestion | S4 | 89.16 | * | 4 May 2023 low |
Asterisk denotes strength of level
07:00 GMT - Extending bounce from the 91.85 low as prices unwind the oversold intraday and daily studies. Gains are seen correcting losses from the 97.30 February high with break above 94.30 resistance opening up room for extension to the 95.00/95.50 congestion. Higher still will see room to 96.00/05 area which is expected to cap. Correction expected to give way to fresh selling pressure later for retest of the 93.60/00 area. Below this will expose the 91.85 low to retest and see scope for break to open the 90.12, August 2024 year low to retest.