AUD/JPY Price Analysis: 78.78/82 tests bounce off 100-bar SMA

AUD/JPY fades bounce off 77.49 even as MACD signals dim the bearish bias.
Key SMAs limit downside, multiple highs marked since December 11 tests the bulls.

Anil Panchal FXStreet

AUD/JPY seesaws around 78.33/40 during the initial Asian trading on Tuesday. In doing so, the quote fails to extend its corrective recovery from 100-bar SMA earlier than the multiple highs marked recently.

Considering the lesser bearish signals from the MACD, AUD/JPY may keep attacking the short-term horizontal resistance around 78.78/82.

It should also be noted that the late April 2019 high near 78.95 and the 79.00 are additional upside hurdles to tackle for the pair buyers ahead of eyeing the 80.00 threshold.

Meanwhile, a downside break f 100-bar SMA, at 77.80 now, will highlight the 200-bar SMA level of 77.00 before driving AUD/JPY sellers to the late-November lows near 76.45.

However, the AUD/JPY bulls are less likely to relinquish their controls until the quote drops below November 19 low near 75.40.

AUD/JPY four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price	78.36
Today Daily Change	-0.36
Today Daily Change %	-0.46%
Today daily open	78.72

Trends
Daily SMA20	77.52
Daily SMA50	76.11
Daily SMA100	76.18
Daily SMA200	73.63

Levels
Previous Daily High	78.83
Previous Daily Low	78.44
Previous Weekly High	78.83
Previous Weekly Low	78.13
Previous Monthly High	77.12
Previous Monthly Low	73.18
Daily Fibonacci 38.2%	78.68
Daily Fibonacci 61.8%	78.59
Daily Pivot Point S1	78.5
Daily Pivot Point S2	78.27
Daily Pivot Point S3	78.11
Daily Pivot Point R1	78.89
Daily Pivot Point R2	79.05
Daily Pivot Point R3	79.27

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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