AUD/JPY fell on Thursday ahead of the Asian session, reversing some of the gains from earlier in the week. The pair dropped toward the 92.80 area, reflecting renewed bearish momentum after a brief period of buying pressure. While sellers regained control, the pair remains above the key 92.00 threshold, suggesting that a period of consolidation might be ahead.
Looking at technical indicators, the Relative Strength Index (RSI) is declining sharply within the negative zone, indicating weakening bullish strength. Meanwhile, the Moving Average Convergence Divergence (MACD) is printing decreasing red bars, reinforcing the view that downside pressure persists. However, the pair still trades within a broader range, limiting immediate downside risks.
For now, support remains firm at 92.00, a level that has provided a strong floor in recent sessions. A break below could accelerate bearish momentum toward 91.50. On the upside, resistance is seen around 93.50, where sellers have consistently stepped in. If AUD/JPY remains above 92.00, the pair could trade sideways in the near term before finding a clearer directional bias.
Keep up with the financial markets, know what's happening and what is affecting the markets with our latest market updates. Analyze market movers, trends and build your trading strategies accordingly.