Published: 2025-07-29T06:59:02.000Z
Chart AUD/JPY Update: Leaning lower from retest of 97.30/97.40 highs
Technical Analyst
1
Settling back from test of the 97.30/40 highs as prices unwind overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 99.00/15 | ** | congestion, Jan YTD high | S1 | 96.00 | * | congestion | |
| R3 | 98.55 | * | 76.4% Nov/Apr fall | S2 | 95.50 | ** | May high, congestion | |
| R2 | 98.00 | * | congestion | S3 | 94.80 | * | 17 Jun high | |
| R1 | 97.30/40 | ** | Feb, 15 Jul highs | S4 | 94.00 | * | congestion |
Asterisk denotes strength of level
07:00 GMT - Settling back from test of the 97.30/40 highs as prices unwind overbought intraday studies. Bearish divergence on daily studies caution pullback to retest strong support at the 96.00/95.50 area. Break here will trigger a double top at the highs and see deeper pullback to retrace gains from the 92.00 level. Lower will see room to 94.80/94.00 area. Meanwhile, resistance 97.30/97.40 highs expected to cap. Clearance, will see room for extension to the 98.00 congestion and equidistance channel from the August/April lows.