AUD/JPY Sustains Downward Pressure Amid Oversold Conditions

The Australian Dollar (AUD) against the Japanese Yen (JPY) is experiencing continued selling pressure, with the pair staying below its key moving averages. The current price of AUD/JPY sits at ¥111.62, down by 0.71% from yesterday's close. Technical indicators such as the Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and Commodity Channel Index (CCI) all point to oversold conditions, indicating that sellers dominate the intraday tone.

The pair has fallen below its 20-day, 50-day, and 200-day moving averages, with significant downward pressure across timeframes. The nearest resistance is at ¥111.71, while support lies at ¥110.19. Momentum signals are mixed, as MACD suggests strong upside, but the Average Directional Index (ADX) remains neutral.

The expected five-day range for AUD/JPY is between ¥110.19 and ¥113.16, with a 60% probability of further downside unless support at ¥110.19 holds. This view is reinforced by ongoing selling pressure and significant yen-buying interventions. The current analysis emphasizes the importance of monitoring support levels to gauge potential further declines.