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.

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

 

 

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