Chart - Courtesy Trading View
Spot Analysis:
AUD/JPY was trading 0.83% lower on the day at 93.07 at around 16:45 GMT.
Previous Week's High/ Low: 96.53/ 93.38
Previous Session's High/ Low: 94.03/ 93.12
Fundamental Overview:
Data released earlier today showed China Caxin Manufacturing PMI printed at 48.1, lower than the expectations and the prior release of 49.5.
A weaker-than-projected Caixin Manufacturing PMI data carries a significant impact on Australian exports.
Investors now await the announcement of October’s monetary policy decision by the Reserve Bank of Australia (RBA).
Technical Analysis:
- AUD/JPY ignores Hammer formation on the previous session, extends weakness
- Momentum is bearish, volatility is high and rising
- MACD and ADX support downside in the pair
- GMMA indicator shows minor trend is bearish while major trend is turning bearish
Major Support and Resistance Levels:
Support - 92.42 (Lower BB), 90.33 (200-DMA)
Resistance - 93.34 (110-EMA), 94.62 (55-EMA)
Summary: AUD/JPY trades with a bearish bias. The pair is poised to extend weakness. Scope for test of 200-DMA at 90.33.


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