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6 May 2020
AUD/JPY Asia Price Forecast: Aussie challenging 0.6800 figure vs. Japanese yen
- AUD/JPY is retracing the strong bullish move seen in April.
- AUD/JPY is testing an important support near 0.6800 figure.
AUD/JPY daily chart
AUD/JPY is starting the month of May consolidating the sharp advance made in April while the spot holds above the 0.6700 figure and the 50 SMA on the daily chart.
AUD/JPY four-hour chart
AUD/JPY is testing the 0.6800 figure and the 38.2% Fibonacci retracement from the April bull-run while holding above the 200 SMA on the four-hour chart. More consolidation to up is expected as the underlying trend remains bullish in the medium-term. Buyers can set their eyes on 68.40 and 69.00 on the way up while support can emerge near 67.30 or the 50% Fib retracement.
Additional key levels