AUD/JPY Price Analysis: Challenges in Breaking Through 38.2% Fibonacci Level Following Chinese Trade Data

Friday, 12 July 2024, 04:01

The AUD/JPY pair faces resistance near the 38.2% Fibonacci level after Chinese trade data release. Support emerges around 106.75, limiting the retracement from recent highs. Market struggles highlight investor caution amid uncertainty.

FXStreet — AUD/JPY Price Analysis: Challenges in Breaking Through 38.2% Fibonacci Level Following Chinese Trade Data

AUD/JPY Price Analysis

The AUD/JPY pair struggles to surpass the 38.2% Fibonacci level post Chinese trade data.

Challenges and Support

Resistance: Near the 38.2% Fibonacci level.
Support: Around the 106.75 region.

Market actions reflect caution from investors, with limited gains despite positive trade data.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.