AUD/JPY Price Analysis: Subdued around 91.20s,  amid the lack of a catalyst

• AUD/JPY remained sideways for the fourth consecutive day, unable to register new daily highs/lows.
• AUD/JPY Price Analysis: In the short term, downward biased, and it can test the 90.00 figure.

As the Asian session begins, the AUD/JPY trims some of Tuesday’s losses, though it remains trapped within the 20 and 50-day Exponential Moving Averages (EMAs), each at 91.10 and 91.27, respectively. Tuesday’s session was volatile, with the AUD/JPY reaching a weekly high of 91.93 before collapsing toward the day’s low on an intervention in the FX markets by Japanese authorities. The AUD/JPY is trading at 91.22, registering minimal gains of 0.07%.

AUD/JPY Price Analysis: Technical outlook

After Tuesday’s session, the AUD/JPY shifted neutral, with most of the Exponential Moving Averages (EMAs)  staying at around 91.10-91.87. However, the AUD/JPY pair is slightly tilted to the downside since consolidating on January 26, recording successive series of lower highs/lows, meaning that in the near term, the AUD/JPY pair is downwards.

Hence, the AUD/JPY first support would be the 20-day EMA at 91.10. A breach of the latter would expose the 91.00 psychological level, which, once cleared, might send the pair diving towards the February 3 swing low at 90.34.

As an alternate scenario, the AUD/JPY supply zone would be the 50-day EMA at 91.27. Moving upwards from that level and the AUD/JPY would test the 200-day and 100-day EMAs, each at 91.52 and 91.86, respectively. Once broken, the 92.00 figure is up for grabs.

AUD/JPY Key Technical Levels