AUD/JPY traded near 94.40 after a slight decline on Tuesday. Despite short-term bullish signals, overarching sentiment remains neutral, with momentum indicators showing no clear direction.
Support is noted around 94.30 and 94.20, while resistance levels are at 94.55 and 95.25. The MACD indicates a buy signal, yet the Relative Strength Index (14) is at 49.41, aligning with a neutral outlook.
Moving Averages And Trend Outlook
The 20-day Simple Moving Average at 93.84 supports a short-term bullish view, but the 100-day SMA at 97.03 and 200-day SMA at 98.85 suggest a longer-term downward trend. Immediate support at 94.308 may stabilise further weakness, with significant resistance around 95.24, potentially shifting momentum.
We have seen the pair hovering near 94.40 following a modest dip on Tuesday. Despite some short-term buying signals, the broader sentiment points to indecision, reflected in unclear momentum indicators. The mixed signals mean traders may hesitate to fully commit to a direction without further confirmation. When markets enter this kind of phase, smaller movements can quickly invalidate previous setups.
Support levels have firmed around 94.30 and 94.20, acting as stabilising areas where buyers may re-enter. Meanwhile, resistance stands at 94.55 and further up at 95.25, both of which could cap upward moves unless volume increases to push through. The MACD, currently flashing a buy signal, hints at some underlying support. However, with the Relative Strength Index sitting at 49.41, there is little indication of momentum favouring either buyers or sellers.
Key Resistance And Support Levels
Short-term trading remains guided by the 20-day Simple Moving Average at 93.84, which maintains a slight bullish tilt. The picture changes when looking at the longer term; the 100-day SMA at 97.03 and the 200-day SMA at 98.85 reinforce a broader downward slope, suggesting that upward movement could still be constrained. Any immediate dips towards 94.308 may find stability there, halting a further decline. On the other side, resistance near 95.24 remains a key barrier—if it gives way, momentum could pick up quickly and shift sentiment.
Over the coming sessions, traders will need to monitor these levels closely. Without a strong catalyst, volatility may remain subdued, making it difficult to sustain momentum in either direction.
