Published: 2024-12-11T06:52:15.000Z
Chart AUD/JPY Update: Limited corrective bounce
Technical Analyst
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Turned up from the 95.52 low as prices unwind oversold intraday and daily studies
| 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 | 98.00 | * | 2 Dec high, congestion | S3 | 94.00 | * | congestion | |
| R1 | 97.00 | * | congestion | S4 | 93.60 | ** | Sep low |
Asterisk denotes strength of level
06:45 GMT - Turned up from the 95.52 low as prices unwind oversold intraday and daily studies. However, gains are seen limited and corrective bounce expected to give way to renewed selling pressure later. Break of support at the 96.00/95.52 area will open up deeper pullback to the strong support at the 94.00/93.60 congestion and September low. Below this will see room to support at the 92.00 congestion. Meanwhile, resistance is at the 97.00 level and this extend to the strong resistance at the 98.00 congestion area which is expected to cap corrective bounce.