The post Extends drop below 93.00 despite risk-on mood appeared on BitcoinEthereumNews.com.

AUD/JPY down 0.15%, trading near 92.28 after hitting intraday high at 92.83. Despite weak momentum, pair holds above Ichimoku Cloud, signaling possible base. Bulls need break above 92.83 for upside; key support lies at 91.70/80 zone. The Australian Dollar (AUD) continues to lose ground versus the Japanese Yen (JPY) late on Thursday, depreciating over 0.15% amid a risk-on mood. The Reserve Bank of Australia’s (RBA) decision to cut rates earlier in the week continued to weigh on the Aussie Dollar, which is failing to find its form. The AUD/JPY trades at 92.28 after hitting a daily high of 92.83. AUD/JPY Price Forecast: Technical outlook After hitting a weekly high of 93.83, the AUD/JPY fell for three consecutive days, grinding lower amid anemic trading ranges of an average of 50 pips daily. Nevertheless, traders failed to push the pair below the Ichimoku Cloud (Kumo), suggesting a bottom could lie ahead. For a bullish continuation, the AUD/JPY needs to clear the May 21 high at 92.83. A breach of the latter will expose 93.00, followed by the Tenkan-sen at 93.81. Once surpassed, the next stop would be 94.00. On the flip side, AUD/JPY needs to drop below the top of the Kumo at 91.70/80. Once that area is cleared, the next support would be the Senkou Span B at 90.88. AUD/JPY Price Chart – Daily Australian Dollar FAQs One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are…

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Filed under: News - @ May 23, 2025 12:27 am