AUDJPY Outlook: Major Breakdown Below 93.65 Looks Likely
The AUDJPY currency pair is facing significant risks for a major bearish breakdown below the critical support level of 93.65. Despite recent speeches from Australia’s central bank officials aiming to temper expectations of further interest rate cuts, the Australian Dollar has struggled to build any substantial momentum. Following a notable 25 basis points cut to the cash policy rate, market participants are watching closely to see how these dynamics will unfold. Analysts suggest that if the bear trend continues, traders should be prepared for further volatility ahead.