Published: 2024-09-10T06:29:01.000Z
Chart AUD/JPY Update: Corrective bounce from 94.67 low, but gains seen limited
Technical Analyst
-
Limited on break of the 95.00 level as prices stabilized at the 94.67 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 99.85 | ** | 2 Sep high | S1 | 94.67 | 9 Sep low | ||
| R3 | 99.00/20 | * | congestion, 25 Jul low | S2 | 94.00 | * | congestion | |
| R2 | 98.00 | * | congestion | S3 | 93.40 | * | 6 Aug low | |
| R1 | 97.00 | * | congestion | S4 | 92.80 | * | Aug 2023 low |
Asterisk denotes strength of level
06:20 GMT - Limited on break of the 95.00 level as prices stabilized at the 94.67 low to unwind the oversold intraday studies. Bounce seen corrective of losses from the 99.85 high with resistance at the 97.00 congestion expected to cap. Above here will see stronger gains to the 98.00 resistance. Corrective bounce expected to give way to fresh selling pressure later. Break of the 94.67 low will see room to the 94.00/93.40 support area. Below this will see room to the 92.80 support and 92.00 congestion. Lower still, will turn focus to the 90.15, August low.