AUD/JPY Price Analysis: Bears battle 200-day EMA, multi-day-old support line above 74.00


  • AUD/JPY fizzles the bounce off one-month low, struggles around the key support confluence near 74.35/25.
  • Bearish MACD, sustained trading below 61.8% Fibonacci retracement favor the sellers.

AUD/JPY struggles to keep recovery moves from the lowest since September 28, marked the previous day, while taking rounds to 74.35 during the early Wednesday morning in Asia. In doing so, the pair steps back from the confluence of 200-day EMA and an upward sloping trend line from June 12.

Even so, bearish MACD and sustained trading below 61.8% Fibonacci retracement of June-August upside keep the AUD/JPY sellers hopeful.

Hence, a clear downside past-74.25 will set the tone for the pair’s downside towards the late-June lows surrounding 73.35/30. Though, the September month’s low of 73.97 can offer an intermediate halt during the fall.

Should AUD/JPY prices remain weak past-73.30, bottoms marked on June 22 and 12, respectively around 72.70 and 72.50 will return to the charts.

Alternatively, a daily closing beyond the 61.8% Fibonacci retracement level of 74.80 will aim for the 75.00 round-figure. However, any more upside will not hesitate to direct the AUD/JPY buyers towards the 50% Fibonacci retracement and the monthly low of 75.50 and 76.50 in that order.

AUD/JPY daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 74.35
Today Daily Change -0.26
Today Daily Change % -0.35%
Today daily open 74.61
 
Trends
Daily SMA20 75.25
Daily SMA50 76.18
Daily SMA100 75.51
Daily SMA200 72.86
 
Levels
Previous Daily High 74.95
Previous Daily Low 74.41
Previous Weekly High 76.52
Previous Weekly Low 74.26
Previous Monthly High 78.36
Previous Monthly Low 73.97
Daily Fibonacci 38.2% 74.62
Daily Fibonacci 61.8% 74.75
Daily Pivot Point S1 74.37
Daily Pivot Point S2 74.12
Daily Pivot Point S3 73.82
Daily Pivot Point R1 74.91
Daily Pivot Point R2 75.2
Daily Pivot Point R3 75.45

 

 

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