Aussie falling back into new weekly lows, heading for 96.00

• The AUD/JPY is backsliding after seeing a rejection from the 97.00 handle.
• Aussie bidders are getting washed out of the market, pushing the AUD down across the board.
• Intraday momentum is firmly pinned into the bearish side.

The AUD/JPY is seeking out further downside as the Aussie markets tilt firmly into the bearish side heading into the Friday market session.

The Aussie’s (AUD) near-term bullish stance from last week is cracking into pieces, marking in a technical ceiling against the Yen (JPY) after a failed push into 97.60 sees the AUD/JPY dumping chart paper. Bids have tumbled below the 200-hour Simple Moving Average (SMA) as intraday momentum rotates into bear country.

Bids are seeing near-term friction from the 96.40 region, but a short-side continuation will see the AUD/JPY extending downwards into the 96.00 handle.

The 50-hour SMA is falling back into the longer moving average but still remains on the top side, and a bearish confirmation could see any bullish pullbacks primed for a continuation lower if bidders don’t step into markets and recover the AUD heading into the week’s market close.

AUD/JPY Hourly Chart

AUD/JPY Daily Chart

AUD/JPY Technical Levels