• AUD/JPY remains on the front foot around two-week top.
  • Sustained trading above 20-DMA, 12-week-old falling trend line keeps buyers hopeful.

AUD/JPY stays firmer around 80.50 during Wednesday’s Asian session. The cross-currency pair jumped to the highest since mid-August the previous day while crossing a downward sloping resistance line, now support, from June 11.

In addition to the trend line breakout, the pair’s successful trading above 20-DMA and upbeat Momentum line also favor AUD/JPY buyers.

That said, the latest breakout aims for 50% Fibonacci retracement of June–August downside, around 81.50.

However, tops marked during late July and August, around 81.60–65, challenge the AUD/JPY bulls afterward.

Meanwhile, a downside break of the previous resistance line near 80.35 could retest 20-DMA level near 80.15 whereas the 80.00 psychological magnet can add to the immediate downside filters.

Should AUD/JPY remains bearish past 80.00, the last month’s low, also the yearly bottom surrounding 77.90, will gain the market’s attention.

Also read: AUD/USD: Steady at two-week top around 0.7300, Australia Q2 GDP eyed

AUD/JPY: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 80.48
Today Daily Change 0.28
Today Daily Change % 0.35%
Today daily open 80.2
 
Trends
Daily SMA20 80.19
Daily SMA50 81.41
Daily SMA100 82.91
Daily SMA200 81.94
 
Levels
Previous Daily High 80.39
Previous Daily Low 79.98
Previous Weekly High 80.35
Previous Weekly Low 78.16
Previous Monthly High 84.2
Previous Monthly Low 79.84
Daily Fibonacci 38.2% 80.13
Daily Fibonacci 61.8% 80.23
Daily Pivot Point S1 79.99
Daily Pivot Point S2 79.78
Daily Pivot Point S3 79.58
Daily Pivot Point R1 80.4
Daily Pivot Point R2 80.59
Daily Pivot Point R3 80.8

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD bears trying hard to keep reins below 0.7000, US/China inflation eyed

AUD/USD bears trying hard to keep reins below 0.7000, US/China inflation eyed

AUD/USD remains depressed around the intraday low near 0.6955 as sellers keep reins for the second consecutive day ahead of the key US inflation data. Firmer China CPI may offer intermediate help but US inflation is crucial amid strong jobs report, hawkish Fedspeak.

AUD/USD News

EUR/USD struggles to defend 1.0200 as sour sentiment teases DXY bulls ahead of US inflation

EUR/USD struggles to defend 1.0200 as sour sentiment teases DXY bulls ahead of US inflation

EUR/USD fades the corrective pullback from 1.0202 around 1.0215 as traders turn cautious ahead of the key US CPI during the initial hour of Wednesday’s Asian session. Also exerting downside pressure on the major currency pair are the economic fears surrounding the Eurozone.

EUR/USD News

Gold aims to recapture $1,800 as investors trim US Inflation forecasts

Gold aims to recapture $1,800 as investors trim US Inflation forecasts

Gold price is displaying a volatility contraction after printing a fresh monthly high at around $1,800.00 on Tuesday. The precious metal witnessed a decent north-side move on Tuesday and later on turned sideways ahead of US CPI.

Gold News

Crypto Sleeping Giants: Hedera Hashgraph price could shock the world

Crypto Sleeping Giants: Hedera Hashgraph price could shock the world

HBAR price shows a drop in volume amidst the current downtrend. Hedera Hashgraph has the potential to rally towards 2000%. Traders should keep the smart contract alternative token on their watchlists and consider a dollar cost average approach for investing. 

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures