Chart AUD/JPY Update: Range-bound in consolidation
Little change, as prices extend consolidation above the 100.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 102.60 | * | Jun low | S1 | 100.00 | * | congestion | |
| R3 | 102.00 | * | 61.8% Jul/Aug fall | S2 | 99.00 | ** | 2022 year high, congestion | |
| R2 | 101.70 | ** | 23 Oct high | S3 | 98.00 | * | congestion | |
| R1 | 101.00 | * | congestion | S4 | 97.00 | * | congestion |
Asterisk denotes strength of level
06:35 GMT - Little change, as prices extend consolidation above the 100.00 level following bounce from the 99.55 low. Consolidation expected to give way to fresh selling pressure later to extend losses from the 101.70 high. Close below the 100.00 level and 99.55 low open up deeper pullback to the 99.00 congestion and the 2022 year high. Below this will fade the upside pressure and turn focus to the downside to retrace rally from the 94.00/93.60, September lows. Meanwhile, resistance at the 100.80/101.00 area now expected to cap and sustain pullback from the 101.70 high. Clearance, if seen, will further retrace the steep July/August losses and see scope to the 102.00/102.60, 61.8% Fibonacci retracement and June low.