The current AUDJPY exchange rate is approximately 97.10, signifying that it requires about 97.10 Japanese Yen to purchase 1 Australian Dollar.

• High: 97.39
• Low: 96.90
• Change: -0.15%

It is expected that the daily trend of AUDJPY will experience a corrective downward direction, reaching levels of 93.76 and then 92.76.

AUD To JPY Resistance & support

• Resistance:
  • Main Resistance: 97.50
• Support:
  • Main Support: 95.00

If the AUDJPY price breaks above the resistance level of 97.50, it could extend its upward movement towards 98.65. However, if the AUDJPY price falls below the support level of 95.00, as expected, it may decline to 93.76 and then to 92.76.

AUDJPY Forecast On 12/20/2023

It is expected that AUDJPY will persist in its decline until it reaches the level of 94.603 and subsequently 93.764.

According to Elliott wave theory, the current AUDJPY price is in wave 4. Wave 4 is expected to be a regular flat, with wave A (a zigzag wave that started at 98.588 and ended at 93.764). The Wave B of the flat, which is a composite wave (WXY), started at 93.764 and ended at 97.585.

The Wave C is expected to have started at 97.585 and is expected to end after the AUDJPY price exceeds the 93.764 level. Wave C of the flat is expected to extend to the 92.76 level.

AUDJPY News On 12/20/2023

The Bank of Japan (BOJ) surprised markets by maintaining its current monetary policy, defying expectations of many who had anticipated policy tweaks. This decision resulted in a depreciation of the Japanese yen against major currencies and a 1.4% increase in the Nikkei index.

• Decision details & impact
  • The Bank of Japan opted to keep interest rates at their current low levels.
  • Investors who had been expecting a tightening of monetary policy were disappointed.
  • The Japanese yen depreciated against other major currencies.
  • The Nikkei index, which measures the performance of the 225 largest companies in Japan, rose by 1.4%.