AUD/JPY Price Forecast: Awaits 110.00 break as Yen strength validates bearish setup on H4
- AUD/JPY drifts lower on Tuesday as BoJ rate hike bets and intervention risks boost the JPY.
- The AUD benefits from a broadly weaker USD, helping limit additional losses for spot prices.
- The bearish technical setup backs the case for an extension of the intraday depreciating move.
The AUD/JPY cross comes under some renewed selling pressure on Tuesday and retreats further from the 110.65 resistance zone, retesting the previous day. Spot prices slide to a fresh daily low during the early European session, with bears now awaiting a break below the 110.00 mark before positioning for further losses.
Traders remain on high alert amid speculation that Japanese authorities will step in to prop up the domestic currency. Adding to this, firming expectations for further policy tightening by the Bank of Japan (BoJ) provide a modest lift to the Japanese Yen (JPY), which, in turn, is seen as a key factor exerting pressure on the AUD/JPY cross. Meanwhile, the Australian Dollar (AUD) benefits from a modest US Dollar (USD) pullback from an 18-month peak and might help limit the downside for the currency pair.
From a technical perspective, spot prices keep a bearish intraday bias following the overnight rejection around the 100-period Simple Moving Average (SMA) on the 4-hour chart. Moreover, Moving Average Convergence Divergence (MACD) remains below zero with a negative reading of -0.03, and the Relative Strength Index (RSI) at 48.48 stays neutral, hinting that downside pressure is present but not yet overstretched. This, in turn, validates the near-term negative outlook for the AUD/JPY cross.
That said, some follow-through selling and acceptance back below the 23.6% Fibo. level and the 110.00 psychological mark is needed to back the case for deeper losses to the structural floor at 108.73. On the topside, initial resistance is seen at the 100-period SMA at 110.58, followed by the 38.2% Fibo. level at 111.12 and the 200-period SMA at 111.42, before the 50.0% retracement at 111.85 and the 61.8% level at 112.59 come into play. Higher up, the 78.6% retracement at 113.64 and the cycle high at 114.98 mark a broader cap.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
AUD/JPY 4-hour chart
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.30% | -0.19% | -0.27% | -0.12% | -0.10% | -0.27% | -0.21% | |
| EUR | 0.30% | 0.10% | 0.02% | 0.18% | 0.17% | 0.03% | 0.09% | |
| GBP | 0.19% | -0.10% | -0.10% | 0.04% | 0.07% | -0.09% | -0.01% | |
| JPY | 0.27% | -0.02% | 0.10% | 0.15% | 0.16% | -0.01% | 0.07% | |
| CAD | 0.12% | -0.18% | -0.04% | -0.15% | 0.01% | -0.16% | -0.08% | |
| AUD | 0.10% | -0.17% | -0.07% | -0.16% | -0.01% | -0.16% | -0.10% | |
| NZD | 0.27% | -0.03% | 0.09% | 0.00% | 0.16% | 0.16% | 0.08% | |
| CHF | 0.21% | -0.09% | 0.00% | -0.07% | 0.08% | 0.10% | -0.08% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
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