AUD/JPY Price Forecast: Remains subdued, trapped within 92.50-93.00

• AUD/JPY capped at 92.89; break above Tenkan-sen may target 93.86 and 94.00.
• RSI flat, showing lack of momentum as session remains subdued.
• Key support at 92.00 and Kumo top near 91.50/75; break below could test 90.83.

The AUD/JPY is poised to close on Monday with gains of over 0.09% amid a subdued trading session, despite an improvement in risk appetite during the day. At the time of writing, the cross-pair trades at 92.74 after bouncing off a daily low of 92.37.

AUD/JPY Price Forecast: Technical outlook

The AUD/JPY trades sideways, capped on the upside by last Friday's high of 92.89 amid a lack of catalysts. The Relative Strength Index (RSI) turned flat at its 50-neutral line, an indication that neither buyers nor sellers are in charge.

If AUD/JPY climbs past the Tenkan-sen at 92.75, this clears the path to challenge the Kijun-sen at 93.10 if surpassed, the cross-pair could reach the May 28 swing high of 93.86. Once cleared, the 94.00 figure is up for grabs.

Conversely, for a bearish continuation, sellers need to drive the AUD/JPY below the May 30 daily low of 92.00 ahead of testing the top of the Ichimoku Cloud (Kumo) at around 91.50/75. Once surpassed, the next demand zone will be the Senkou Span B at 90.83.

AUD/JPY Price Chart - Daily