AUD/JPY Falls Below 92.50, More Losses May Come
The Australian Dollar (AUD) has dropped below 92.50 against the Japanese Yen (JPY). This break could lead to more losses. The fall is mainly due to the chance that the Reserve Bank of Australia (RBA) might cut interest rates. At the same time, Japan’s economy is showing strength, which is helping the Yen.
From a technical point of view, the pair is trading below important moving averages. This means the trend is still weak. Also, momentum tools show that sellers are in control right now.
If the price keeps falling, the next support levels to watch are near 91.80 and 91.00. These are the areas where the price might stop going down.
If the pair starts to rise again, it may face resistance near 93.00 and 93.50. But looking at the current trend and market mood, a strong recovery doesn’t seem likely soon.
Impact:
AUD/JPY could stay weak if the RBA moves toward rate cuts and Japan’s economy stays strong. If this continues, the pair might fall to lower levels soon.