Published: 2024-12-20T07:40:11.000Z
Chart AUD/JPY Update: Extending choppy gains from 96.00/95.52 support
Technical Analyst
-
Saw rebound from the 96.00 congestion to extend choppy gains from the 95.52 low to regain the 98.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 101.55 | * | 20 Nov high | S1 | 97.00 | * | congestion | |
| R3 | 100.00 | * | congestion | S2 | 96.00 | * | congestion | |
| R2 | 99.42 | ** | 15 Dec low | S3 | 95.52 | ** | 6 Dec low | |
| R1 | 99.00 | * | Aug high | S4 | 94.80 | * | 61.8% Aug/Nov rally |
Asterisk denotes strength of level
07:35 GMT - Saw rebound from the 96.00 congestion to extend choppy gains from the 95.52 low to regain the 98.00 level. Consolidation here see room for stronger bounce to retest the August high at the 99.00 level. Beyond this will see scope to strong resistance at the 99.42, mid-December low. Gains are seen corrective gains are expected to give way to selling pressure later. Break of the 96.00 level and 95.52 support will see pullback to retrace the August/November rally to 94.80, 61.8% Fibonacci retracement. Lower still will see scope for retest of the 93.60, September low.