BoJ Holds Steady at 0.75%, AUD/JPY Continues to Decline
- BoJ Policy Decision: The Bank of Japan's unexpected decision to maintain its benchmark interest rate at 0.75% has led to a depreciation of the yen against the Australian dollar, keeping the AUD/JPY pair below 114.50, indicating yen weakness and market disappointment regarding future rate hikes.
- Monetary Policy Divergence: The Reserve Bank of Australia has raised rates by 400 basis points to 4.35% since 2022, while the BoJ maintains an ultra-loose policy, resulting in a favorable environment for the Australian dollar and highlighting the significant divergence in monetary policies between the two countries.
- Market Reaction: Although the market widely expected the BoJ to hold rates steady, the lack of forward guidance on future tightening disappointed yen bulls, causing the yen to weaken against most major currencies, with AUD/JPY briefly dipping below 114.00, reflecting a lack of confidence in the yen.
- Technical Analysis: The AUD/JPY pair is currently trading below its 50-day moving average, with key support levels at 113.80 and 113.20; a break below these levels could trigger further downside pressure, indicating bearish sentiment in the market regarding this currency pair.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0255 | 0.0291 | 0.0321 | 0.0357 | 0.0387 | 0.0423 | 0.0453 |
| Fibonacci | 0.0291 | 0.0316 | 0.0331 | 0.0357 | 0.0382 | 0.0397 | 0.0423 |
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