The AUD/JPY pair stops the downward trend and remains unchanged during Tuesday’s US session after the publication of further bearish daily candles due to speculations about intervention in currency markets to strengthen the Japanese yen. The Aussie fell as a result, but at the time of writing it has recovered, cutting its weekly losses and changing hands at around 106.61, virtually unchanged.
AUD/JPY Price Forecast: Technical Outlook
The AUD/JPY pair is bullish despite finding resistance at the top of the uptrend channel at 109.00. Intervention threats triggered a sell-off in the cross pair that reached 106.08, losing almost 300 pips.
Even though the Relative Strength Index (RSI) has turned around, it remains bullish. However, as the slope has flattened, traders should expect sideways price action before the uptrend resumes.
To maintain its bullish continuation, the AUD/JPY pair needs to break the January 26 high of 107.59. Once above, the next stop will be 108.00 and 109.00, the yearly high.
Conversely, if AUD/JPY falls below 103.00, it will expose the December 19 high support at 105.22, after which the crossover will fall to 105.00. In case of further weakening, the next support will be the high support from December 9 at 104.40.
AUD/JPY price chart – daily
Australian dollar price this week
The table below shows the percentage change in the Australian Dollar (AUD) against the major currencies traded this week. The Australian dollar was strongest against the US dollar.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -1.32% | -1.25% | -1.30% | -0.85% | -1.13% | -1.33% | -1.57% | |
| EUR | 1.32% | 0.07% | 0.06% | 0.48% | 0.20% | 0.00% | -0.24% | |
| GBP | 1.25% | -0.07% | -0.38% | 0.42% | 0.12% | -0.07% | -0.32% | |
| JPY | 1.30% | -0.06% | 0.38% | 0.47% | 0.18% | 0.02% | -0.25% | |
| BOOR | 0.85% | -0.48% | -0.42% | -0.47% | -0.41% | -0.45% | -0.73% | |
| AUD | 1.13% | -0.20% | -0.12% | -0.18% | 0.41% | -0.20% | -0.44% | |
| NZD | 1.33% | -0.01% | 0.07% | -0.02% | 0.45% | 0.20% | -0.25% | |
| CHF | 1.57% | 0.24% | 0.32% | 0.25% | 0.73% | 0.44% | 0.25% |
The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select Australian Dollar from the left column and move along the horizontal line to US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
