Published: 2025-07-16T07:43:01.000Z
Chart AUD/JPY Update: Consolidating retest of 97.30, February high
Technical Analyst
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Break above the 97.00 level has seen extension to retest the 97.30, February high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 98.55 | * | 76.4% Nov/Apr fall | S1 | 96.00 | * | congestion | |
| R3 | 98.30 | ** | upper channel | S2 | 95.50 | ** | May high, congestion | |
| R2 | 98.00 | * | congestion | S3 | 94.80 | * | 17 Jun high | |
| R1 | 97.30 | * | Feb high | S4 | 94.00 | * | congestion |
Asterisk denotes strength of level
07:40 GMT - Break above the 97.00 level has seen extension to retest the 97.30, February high. Daily studies remains positive with bullish momentum suggesting scope break to open up room to resistance at 98.00/98.30, congestion and equidistant channel from the August/April lows. However, overbought daily and weekly studies caution corrective pullback with support starting at the 96.00 congestion and extending to the 95.50, May high. Would take break here to fade the upside pressure and see deeper pullback to retrace gains from the 92.00 level.