The AUD/JPY currency pair saw a modest increase on Tuesday, driven by US President Trump's postponement of trade tariffs on Canada and Mexico. However, the potential for an RBA rate cut in February could limit further gains. Technical indicators suggest a bearish outlook for AUD/JPY, with support levels at 95.05 and 94.00.
The AUD/JPY currency pair experienced a gain of 0.53% on Tuesday, reaching around 96.20 in the early European session. This upward movement can be attributed to US President Donald Trump's decision to postpone planned trade tariffs on Canada and Mexico, which weakened the safe-haven currency, the Japanese Yen (JPY). However, the potential for a rate cut by the Reserve Bank of Australia (RBA) in February might cap the pair's upside.
Technically, AUD/JPY's bearish outlook persists as the cross remains below the crucial 100-period Exponential Moving Average (EMA) on the 4-hour chart. The Relative Strength Index (RSI), situated below the midline, reinforces this downward momentum, suggesting a prevailing bearish trend. The lower Bollinger Band boundary at 95.05 acts as initial support for the pair. A decisive break below this level could expose 94.62, the low recorded on February 3rd, with further support at 94.00. Conversely, key resistance for AUD/JPY lies near 97.00, marked by the 100-period EMA, the upper Bollinger Band limit, and a psychological round number. Sustained trading above this level could propel the pair towards 97.95, the high reached on January 14th, and potentially even 98.34, the high recorded on January 22nd.
AUD/JPY Australian Dollar Japanese Yen Reserve Bank Of Australia (RBA) Trade Tariffs Interest Rates Technical Analysis
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon's Prestige Beauty Push Gains TractionAmazon is making inroads into the prestige beauty market, attracting growing consumer interest in luxury brands that have traditionally avoided the e-commerce giant. While premium beauty only represents 9% of Amazon's beauty and personal care sales, it saw a significant jump in both dollars and units sold in the past year. Major beauty players like Estée Lauder have started adding brands to Amazon, recognizing the platform's growing influence and the opportunity to reach a wider audience. The trend is also evident on social media platforms like TikTok, with content showcasing designer beauty finds on Amazon.
Read more »
Ripple Stablecoin Gains Traction, XRP ETF Eyed for 2025Ripple's stablecoin is seeing widespread adoption, with major cryptocurrency exchanges like Coinbase expected to list it soon. Ripple's president anticipates an XRP ETF approval in 2025, citing the potential for pro-crypto leadership at the SEC to favor such products. Several exchanges have already embraced the stablecoin, and industry observers predict continued growth in 2025, with stablecoins playing a key role.
Read more »
ByteDance's Lemon8 gains traction amid TikTok ban threat as creators push the appHearing a lot about Lemon8 lately.
Read more »
ByteDance's Lemon8 gains traction amid TikTok ban threat as creators push the appHearing a lot about Lemon8 lately? You’re not the only one. Amid a looming U.S. ban on TikTok, content creators have been pushing the platform’s sister app. Lemon8 resembles an amalgamation of the types of short-form videos found on TikTok and the picture-perfect aesthetic of Instagram and Pinterest. But there’s a hitch.
Read more »
Populist Proposal to Auction Off Federal Assets for Working-Class Funding Gains TractionA plan to auction off distressed federal government assets, such as loans, to fund infrastructure and working-class priorities is gaining renewed attention. The proposal, originally introduced in 2018 as the Generating American Income and Infrastructure Act (GAIIN), has gained support from key lawmakers and analysts who believe it could generate over a trillion dollars in revenue and benefit economically disadvantaged areas.
Read more »
Stephen King Oscars Remark Gains Traction Online Amid LA FiresThe author said there should be no 'glitz' in Hollywood while Los Angeles burns.
Read more »