- Aud/JPy was seen in zone 92.80 before the Asian session, retreating after two consecutive days of profits.
- Despite the fall, the pair remains above the threshold of 92.00, with technical indicators on negative territory.
- Aside trade can persist above 92.00 when the market is waiting for a fresh momentum, with resistance at 93.50 and support at 92.00.
Aud/JPy fell on Thursday before the Asian session, withdrawing some of the benefits from the previous week. The pair fell towards the area of ​​92.80, reflecting the renovated bear’s rush after a miniature period of purchasing pressure. While the sellers regained control, the couple remains above the threshold of 92.00, which suggests that the consolidation period may be ahead of us.
Looking at technical indicators, the relative force indicator (RSI) decreases violently in the negative zone, which indicates the weakening stubborn force. Meanwhile, the divergence of the movable medium convergence (MacD) prints the red bars, strengthening the view that the inheritance pressure lasts. However, the couple still trade in a wider extent, limiting immediate inheritance risk.
For now, the support remains sturdy at 92.00, the level that has provided a sturdy floor in recent sessions. The below break can speed up the shoots in the direction of 91.50. On the other hand, the resistance is apparent around 93.50, where the sellers entered consistently. If Aud/JPy stays above 92.00, the couple could trade sideways in the near future before they found a clearer directional attitude.
