Published: 2025-07-18T07:13:31.000Z
Chart AUD/JPY Update: Lower in consolidation from 97.40 high
Technical Analyst
1
Settled back from the 97.40 high as prices consolidate gains from the 94.00, July low
| 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 | 97.40 | * | 15 Jul high | S4 | 94.00 | * | congestion |
Asterisk denotes strength of level
07:00 GMT - Settled back from the 97.40 high as prices consolidate gains from the 94.00, July low. Bullish momentum keeps pressure on the upside and see room to further extend the April gains to resistance at 98.00/98.30, congestion and equisdistant channel from 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.