AUD/JPY Price Analysis: 61.8% Fibonacci, short-term supportline to challenge recent pullback


  • AUD/JPY pauses the latest declines while staying between the key technical levels.
  • An eight-day-old rising trend line, 61.8% Fibonacci retracement limits immediate downside.
  • 21-day SMA, 50% Fibonacci retracement challenges the short-term buyers.

AUD/JPY consolidates the latest losses to 73.80 by the press time of the early Asian session on Friday. The pair previously pulled back from 21-day SMA. Even so, it still trades above short-term support line and 61.8% Fibonacci retracement of its run-up from October to December 2019.

However, bullish MACD increases the odds for the pair’s further recovery towards the monthly high surrounding 74.40 if it successfully clears 21-day SMA and 50% of Fibonacci retracement, respectively around 74.00 and 74.15.

During the pair’s rise past-74.40, 50-day SMA around 74.85 and 75.00 round-figure will be on the buyers’ radars.

Meanwhile, a downside break of 73.60/55 support confluence can drag it to 73.00 ahead of highlighting the January 31 bottom of 72.44 for sellers.

If AUD/JPY prices keep trading southwards below 72.40, October 2019 trough around 71.70 could lure the bears.

AUD/JPY daily chart

Trend: Sideways

Additional important levels

Overview
Today last price 73.8
Today Daily Change -0.36
Today Daily Change % -0.49%
Today daily open 74.16
 
Trends
Daily SMA20 74.15
Daily SMA50 74.88
Daily SMA100 74.38
Daily SMA200 74.34
 
Levels
Previous Daily High 74.3
Previous Daily Low 73.69
Previous Weekly High 74.39
Previous Weekly Low 72.5
Previous Monthly High 76.34
Previous Monthly Low 72.46
Daily Fibonacci 38.2% 74.07
Daily Fibonacci 61.8% 73.92
Daily Pivot Point S1 73.8
Daily Pivot Point S2 73.44
Daily Pivot Point S3 73.19
Daily Pivot Point R1 74.41
Daily Pivot Point R2 74.66
Daily Pivot Point R3 75.02

 

 

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