Published: 2025-03-05T07:24:49.000Z
Chart AUD/JPY Update: Corrective bounce from 91.85 low
Technical Analyst
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Saw break to fresh year low at 91.85 ahead of rebound as prices unwind the oversold intraday and daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 96.00/05 | ** | congestion, 17 Jan low | S1 | 93.00 | * | congestion | |
| R3 | 95.50 | * | Dec low | S2 | 91.85 | ** | 4 Mar YTD low | |
| R2 | 95.00 | * | congestion | S3 | 90.12 | ** | Aug 2024 year low | |
| R1 | 94.30 | ** | 10 Feb low | S4 | 89.16 | * | 4 May 2023 low |
Asterisk denotes strength of level
07:20 GMT - Saw break to fresh year low at 91.85 ahead of rebound as prices unwind the oversold intraday and daily studies. Bounce see prices correcting losses from the 97.30 February high and regaining the 94.00 level will see room to strong resistance at 94.30. Clearance here, if seen, will open up room to the 95.00/95.50 congestion which is expected to cap. Correction expected to give way to fresh selling pressure later for retest of the 93.00 congestion then the 91.85 low. Below this will open the 90.12, August 2024 year low, to retest.