AUD/JPY Rebound Stalls Ahead of Monthly High
AUD/JPY appears to have staged a failed attempt to test the monthly high (92.44) as it gives back the advance from the start of the week.
AUD/JPY Rate Outlook
AUD/JPY pulls back from a fresh weekly high (92.35) as the Japanese Yen appreciates against most of its major counterparts, and the exchange rate may continue to track the monthly range as it fails to extend the series of higher highs and lows from last week.
Failure to hold above 91.70 (38.2% Fibonacci retracement) may push AUD/JPY towards the 89.60 (50% Fibonacci retracement) to 90.30 (23.6% Fibonacci extension) region, which encompasses the 50-Day SMA (89.60), with the next area of interest coming in around the monthly low (89.17).
Nevertheless, AUD/JPY may stage further attempts to test the monthly high (92.44) if it defends the weekly low (91.38), with the next area of interest coming in around the February high (93.05).
AUD/JPY Rate Outlook
AUD/JPY pulls back from a fresh weekly high (92.35) as the Japanese Yen appreciates against most of its major counterparts, and the exchange rate may continue to track the monthly range as it fails to extend the series of higher highs and lows from last week.
Failure to hold above 91.70 (38.2% Fibonacci retracement) may push AUD/JPY towards the 89.60 (50% Fibonacci retracement) to 90.30 (23.6% Fibonacci extension) region, which encompasses the 50-Day SMA (89.60), with the next area of interest coming in around the monthly low (89.17).
Nevertheless, AUD/JPY may stage further attempts to test the monthly high (92.44) if it defends the weekly low (91.38), with the next area of interest coming in around the February high (93.05).
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