AUD/JPY Price Analysis: Recedes towards weekly support line below 77.00
|- AUD/JPY fades upside momentum, extends Wednesday’s pullback from 77.00.
- Bearish MACD suggests further weakness, bulls can stay hopeful unless witnessing a break of monthly rising trend line support.
AUD/JPY eases to 76.72 amid the early Friday morning in Asia. In doing so, the pair directs the recently downbeat performance towards an immediate support line amid bearish MACD.
Although the 76.60 support line figure can challenge the AUD/JPY buyers, the upside hopes remain unless the quote drops below an ascending trend line from November 01, at 76.18 now.
It should also be noted that the lows marked during the late last week, around 75.50/45 offer additional filters to the downside.
Meanwhile, a two-day-old falling trend line near 76.90 probes recovery moves, if any, ahead of the monthly top around 77.05/10.
In a case where the AUD/JPY bulls keep the reins past-77.10, the September 10 high near 77.70/75 will be in the spotlight.
AUD/JPY four-hour chart
Trend: Further weakness expected
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