Chart AUD/JPY Update: Higher in consolidation from 96.00/95.52 support
Steadied at the 96.00 level and bounce here see prices turning higher in consolidation within the 3-week range area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 99.42 | ** | 15 Dec low | S1 | 96.00 | * | congestion | |
| R3 | 99.00 | * | Aug high | S2 | 95.52 | ** | 6 Dec low | |
| R2 | 98.35 | * | 17 Dec high | S3 | 94.80 | * | 61.8% Aug/Nov rally | |
| R1 | 97.10 | * | 17 Dec low | S4 | 93.60 | ** | Sep low |
Asterisk denotes strength of level
06:45 GMT - Steadied at the 96.00 level and bounce here see prices turning higher in consolidation within the 3-week range area. Bounce see resistance starting at 97.10 and lift over this will see room for retest of the 98.00 level and 98.35 high. Above here will see room for stronger bounce to the August high at the 99.00 level then the 99.42 resistance, expected to cap. Corrective gains are expected to give way to selling pressure later. Break of the 96.00 level and 95.52 support will see deeper 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.