AUD/JPY: Friday's doji makes today's NY close pivotal

AUD/JPY has backed-off from the one month high of 83.69.
The pair created a doji candle on Friday, signaling indecision in the marketplace.
Today's NY close to set the tone for the next move in the pair.

Omkar Godbole FXStreet Contributor

Currently, the AUD/JPY is trading at 83.45, having clocked a one month high of 83.69 earlier today and could trim gains further, courtesy of dismal China data release.

Focus on today's NY close

The currency pair created a doji candle on Friday, signaling indecision in the marketplace. However, when viewed against the backdrop of the rally from the June 28 low of 80.69, the doji candle indicates bullish exhaustion.

That said, a close today above Friday's high of 83.60 would signal a continuation of the rally from the June 28 low of 80.69. On the other hand, a bearish doji reversal would be confirmed if the cross closes below 82.99 today.

AUD/JPY Technical Levels

Resistance: 83.69 (session high), 84.54 (June 7 high), 84.60 (200-day MA).

Support: 83.24 (session low), 82.50 (100-day MA + 10-day MA), 81.94 (20-day MA).

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Bullish	Neutral	High
1H	Bearish	Neutral	Low
4H	Bearish	Neutral	Shrinking
1D	Bearish	Overbought	Shrinking
1W	Bullish	Neutral	Low
Updated Jul 16, 02:30 GMT

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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