AUD/JPY Price Analysis: 100-day SMA, 50% Fibonacci in focus before Aussie employment data

AUD/JPY stays positive above 200-day SMA.
Bullish MACD favors further upside, 61.8% Fibonacci retracement on the buyers’ radar.
Sellers will wait for the downside break of 38.2% Fibonacci retracement.

Anil Panchal FXStreet

AUD/JPY registers 0.10% gains as trading near 74.33 during the Asian session on Thursday. In doing so, the pair justifies the sustained trading above 200-day SMA and bullish MACD. However, a confluence of 100-day SMA and 50% Fibonacci retracement of December 2019 to January 2020 declines seem a tough nut to crack for the buyers.

It should also be noted that Australian employment data for January will also be the key to watch for the near-term direction.

In a case data provide a positive surprise and propels the AUD/JPY pair beyond 74.45/50 immediate resistance confluence, 74.85 can be the next levels to watch ahead of 61.8% Fibonacci retracement around 75.00.

If at all the bulls manage to dominate past-75.00, January 23 high near 75.50 will be the important upside barrier.

Meanwhile, the pair’s daily closing below 200-day SMA level of 74.25 can drag it back to 38.2% Fibonacci retracement, at 74.00 now, a break of which might not refrain to recall 73.60 and 73.60 numbers to the south.

AUD/JPY daily chart

Trend: Bullish

Additional important levels

Overview
Today last price	74.34
Today Daily Change	0.86
Today Daily Change %	1.17%
Today daily open	73.48

Trends
Daily SMA20	73.76
Daily SMA50	74.84
Daily SMA100	74.42
Daily SMA200	74.28

Levels
Previous Daily High	73.84
Previous Daily Low	73.19
Previous Weekly High	74.3
Previous Weekly Low	73.06
Previous Monthly High	76.34
Previous Monthly Low	72.46
Daily Fibonacci 38.2%	73.44
Daily Fibonacci 61.8%	73.59
Daily Pivot Point S1	73.17
Daily Pivot Point S2	72.85
Daily Pivot Point S3	72.52
Daily Pivot Point R1	73.82
Daily Pivot Point R2	74.16
Daily Pivot Point R3	74.47

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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