Published: 2024-12-17T07:16:09.000Z
Chart AUD/JPY Update: Extending corrective bounce
Technical Analyst
1
Extending bounce from the 95.52 low of last week as prices unwind the oversold daily studies to reach the 98.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.00 | * | congestion | S1 | 96.00 | * | congestion | |
| R3 | 99.42 | ** | 15 Dec low | S2 | 95.52 | ** | 6 Dec low | |
| R2 | 99.00 | * | Aug high | S3 | 94.00 | * | congestion | |
| R1 | 98.00 | * | 2 Dec high, congestion | S4 | 93.60 | ** | Sep low |
Asterisk denotes strength of level
07:15 GMT - Extending bounce from the 95.52 low of last week as prices unwind the oversold daily studies to reach the 98.00 level. Clear break here will see room for stronger gains to the 99.00 level and 99.42 resistance. Gains are seen corrective and expected to give way to renewed selling pressure later. Break of the 96.00/95.52 support will return focus to the strong support at the 94.00/93.60 congestion and September low. Below these will see room to support at the 92.00 congestion then the 90.15 August YTD low.