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.

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

 

 

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