We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
This website does not provide services to residents of United States.
Market News Analysis of the AUD/JPY Price: It Plummets Following the RBA's Dovish Stance; Technical Indicators Suggest Downside Risks Persist

Analysis of the AUD/JPY Price: It Plummets Following the RBA's Dovish Stance; Technical Indicators Suggest Downside Risks Persist

The AUD/JPY pair fell below significant support levels, including the Kijun-Sen and Senkou Span. Bears are gaining ground, as indicated by the Chikou Span crossing below price action and the closing distance between the Tenkan and Kijun-Sen. AUD/JPY investors who reclaim 97.00 could potentially initiate a rally to 98.00.

TOP1 Markets Analyst
2023-12-06
12276

 AUD:JPY 2.png

 

The AUD/JPY opened the Asian session on Wednesday in a negative mood, following losses of over 1% on Tuesday. The Reserve Bank of Australia (RBA) maintained interest rates at their current level. However, market participants interpreted this as a "dovish hold," which resulted in sellers of the Australian Dollar (AUD) applying downward pressure on the currency. As of the moment of writing, the pair is trading at 96.36, representing a decrease of 0.02%.

 

The AUD/JPY maintains a neutral to upward bias despite significant losses, but adverse risks are emerging. As it crosses below the price action, the Chikou Span becomes bearish, and the gap between the Kijun-Sen and Tenkan Span is closing. A decline in the pair's value below the low of 96.28 set on November 10 will apply downward pressure. The subsequent support would be the apex of the Kumo, which is approximately 95.15/25 on the Ichimoku Cloud, and then the nadir of the Kumo at 94.95.

 

Conversely, purchasers might reclaim control should the AUD/JPY pair successfully reclaim the 97.00 level. The Tenkan-Sen, which is observed at 97.40, is the subsequent level of resistance identified. Should the pair accumulate further momentum, it may advance towards the 98.00 mark.

Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free