Our pivot point stands at 88.26.
Our preference: the downside prevails as long as 88.26 is resistance.
Alternative scenario: above 88.26, look for 88.67 and 88.91.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 88.65 and 88.95). Finally, the AUD/JPY has penetrated its lower Bollinger band (87.96).
Supports and resistances:
88.91 **
88.67 *
88.26 **
88.11
87.92 last
87.42
87.18 **
86.94 *
86.70 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 04-05-2023 at 10:41 UTC+1
Price reference: 87.92 last known on 04-05-2023 at 10:41 UTC+1
Investment horizon: INTRADAY