AUD/JPY Price Analysis: 21-day SMA, 50% Fibonacci guard immediate upside

AUD/JPY remains on the back foot despite being above 10-day SMA.
Bullish MACD, sustained trading beyond short-term SMA favor buyers.

Anil Panchal FXStreet

AUD/JPY declines to 66.00 amid the early Asian session on Friday. In doing so, the pair remains below a confluence of 21-day SMA and 50% Fibonacci retracement of its one-month declines from February 19, 2020.

However, bullish MACD and sustained trading beyond 10-day SMA increases the odds for the pair to keep the strength, which in turn raises hopes for the buyers’ entry beyond 67.10/20 resistance confluence.

In that case, 61.8% Fibonacci retracement level around 68.95/69.00 will be on the bulls’ radar ahead of 70.00 psychological magnet,

On the contrary, the pair’s daily closing below the 10-day SMA level of 64.90 can extend the weakness towards 23.6% Fibonacci retracement level of 63.35.

However, the bears may remain cautious unless the quote slips below 62.40/35 support area that holds the key to the sub-60.00 mark.

AUD/JPY daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	66.2
Today Daily Change	-0.08
Today Daily Change %	-0.12%
Today daily open	66.28

Trends
Daily SMA20	67.43
Daily SMA50	71.34
Daily SMA100	73.12
Daily SMA200	73.42

Levels
Previous Daily High	67.7
Previous Daily Low	65.93
Previous Weekly High	66.25
Previous Weekly Low	59.9
Previous Monthly High	74.47
Previous Monthly Low	69.38
Daily Fibonacci 38.2%	67.03
Daily Fibonacci 61.8%	66.61
Daily Pivot Point S1	65.57
Daily Pivot Point S2	64.87
Daily Pivot Point S3	63.8
Daily Pivot Point R1	67.34
Daily Pivot Point R2	68.41
Daily Pivot Point R3	69.11

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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