The AUD/JPY post of four straight days of losses stays below the 97.50 area on Monday, breaking below a key support level at the time of writing. The AUD/JPY is trading at 97.24, down y 0.01%, as Tuesday’s Asian session begins.
From a daily chart perspective, the pair is upward biased, but it fell below the Tenkan-Sen at 97.31, which could exacerbate a test of the 97.00 figure. The pair would witness further downside action below the latter, like the Senkou Span A at 96.86, before slumping toward the Kijun-Sen at 96.41. Once cleared, up next would be. the 96.00 mark.
On the other hand, if AUD/JPY climbs past the November 20 high at 97.72, that could exacerbate a test of the 98.00 figure. Once cleared, up next would be the year-to-date (YTD) high at 98.60, ahead of the 99.00 figure.