AUD/JPY Price Analysis: Bears challenge 20-hour SMA near 84.70

AUD/JPY accumulates losses in the Asian session.
More downside in the offing, if the price breaks below 84.70
Oversold momentum oscillator caution on aggressive bids.

Rekha Chauhan Independent Analyst

The AUD/JPY cross is trading in the negative territory on the first trading day of a fresh week. The cross opened above the 85.00 mark. However, it was unable to hold onto the gains and turned south, touching the session’s low at 84.74.

At the time of writing, the AUD/JPY cross is trading at 84.80, down 0.25% on the day.

AUD/JPY 4-hour chart

On the 4-hour chart, the cross has been accumulating losses near the 85.15 mark. The cross approaches the 20-hour Simple Moving Average (SMA) at 84.76. If the price breaks below the mentioned level, then the next stop for the bears would be the 84.55 horizontal support level.

Market participants would target Thursday’s low at 84.29 if the losses deepen.

The oversold Moving Average Divergence (MACD) indicator suggests the stretched selling opportunities. Any uptick could reverse the price towards the 84.95 horizontal resistance zone, followed by Wednesday’s high at 85.26.

The next area of resistance could be seen at Tuesday’s high at 85.44.

AUD/JPY additional Levels

AUD/JPY

Overview
Today last price	84.82
Today Daily Change	-0.20
Today Daily Change %	-0.24
Today daily open	85.02

Trends
Daily SMA20	84.43
Daily SMA50	84.12
Daily SMA100	82.56
Daily SMA200	79.43

Levels
Previous Daily High	85.17
Previous Daily Low	84.53
Previous Weekly High	85.8
Previous Weekly Low	84.29
Previous Monthly High	85.01
Previous Monthly Low	83.04
Daily Fibonacci 38.2%	84.92
Daily Fibonacci 61.8%	84.77
Daily Pivot Point S1	84.64
Daily Pivot Point S2	84.26
Daily Pivot Point S3	84
Daily Pivot Point R1	85.28
Daily Pivot Point R2	85.55
Daily Pivot Point R3	85.93

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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