AUDJPY settles between 100 and 200 hour MAs

The AUDJPY AUD/JPY AUD/JPY is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one Australian dollar. For example, when the AUD/JPY is trading at 85.00, it means 1 Australian dollar is equivalent to 85 Japanese yen. The Australian Dollar (AUD) is the world’s fifth most traded currency, whilst the Japanese yen (JPY) is the worl AUD/JPY is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one Australian dollar. For example, when the AUD/JPY is trading at 85.00, it means 1 Australian dollar is equivalent to 85 Japanese yen. The Australian Dollar (AUD) is the world’s fifth most traded currency, whilst the Japanese yen (JPY) is the worl Read this Term moved up to test the cycle highs and highest levels going back to 2015 on Tuesday and Wednesday, but fell short of the high from last week at 94.327. The highs reached 94.16 and 94.136 respectively. That led to some selling into the close yesterday and a further move lower today.

The move to the downside today, did find some support buying near the 200 hour MA (green line) at 92.38. Since then, there have been some ping-pong action between the 100 hour MA above (blue line) at 92.98 and the 200 hour MA below at 92.38. The current price is at 92.72.

The market is awaiting the next shove one way or the other.