Published: 2024-10-29T06:32:59.000Z
Chart AUD/JPY Update: Leaning lower from the 101.70 high
Technical Analyst
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Leaning lower from the 101.70 high of last week as prices unwind the overbought daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 104.00 | * | congestion, 22 Jul low | S1 | 100.00 | * | congestion | |
| R3 | 102.60 | * | Jun low | S2 | 99.00 | ** | 2023 year high, congestion | |
| R2 | 102.00 | * | 61.8% Jul/Aug fall | S3 | 98.00 | * | congestion | |
| R1 | 101.70 | ** | 23 Oct high | S4 | 97.00 | * | congestion |
Asterisk denotes strength of level
06:30 GMT - Leaning lower from the 101.70 high of last week as prices unwind the overbought daily studies. Nearby see support at the 100.00 level and where break will open up deeper pullback to the 99.00 congestion and the 2023 year high. The latter is expected to underpin while failure here will fade the upside pressure and turn focus to the downside to retrace rally from the 94.00/93.60, September lows. Meanwhile, resistance at the 101.70 high is expected to cap. Break here, if seen, will further retrace the steep July/August losses and see scope to the 102.00, level and 61.8% Fibonacci retracement.