AUD/JPY Price Analysis: Bounces off 50-day EMA amid bearish MACD

AUD/JPY revisits the sub-200-day EMA area after eight days.
Early-December top, 38.2% Fibonacci retracement can please sellers during further declines.
23.6% Fibonacci retracement adds to the short-term resistance.

Anil Panchal FXStreet

AUD/JPY recovers to 75.20 amid the initial Asian session on Wednesday. The pair declines below 200-day EMA during the previous day but took a U-turn from 50-day EMA. Even so, bearish MACD favors the sellers.

Hence, a downside break of 50-day EMA level of 75.10 can extend Tuesday’s declines towards December 03 high near 74.85 ahead of highlighting 38.2% Fibonacci retracement of the pair’s rise between October and December months, at 74.70.

In a case where AUD/JPY prices keep trading southward past-74.70, 50% Fibonacci retracement and the monthly low could entertain the bears around 74.15 and 73.75 respectively.

Meanwhile, the pair’s daily closing beyond a 200-day EMA level of 75.32 enables it to challenge 23.6% of Fibonacci retracement at 75.42.

However, January 16 peak around 76.25 and the previous month's top surrounding 76.55 could question the bulls during the additional run-up.

AUD/JPY daily chart

Trend: Pullback expected

additional important levels

Overview
Today last price	75.2
Today Daily Change	-0.54
Today Daily Change %	-0.71%
Today daily open	75.74

Trends
Daily SMA20	75.71
Daily SMA50	74.96
Daily SMA100	74.3
Daily SMA200	74.75

Levels
Previous Daily High	75.9
Previous Daily Low	75.53
Previous Weekly High	76.25
Previous Weekly Low	75.56
Previous Monthly High	77.45
Previous Monthly Low	73.82
Daily Fibonacci 38.2%	75.67
Daily Fibonacci 61.8%	75.76
Daily Pivot Point S1	75.54
Daily Pivot Point S2	75.35
Daily Pivot Point S3	75.18
Daily Pivot Point R1	75.91
Daily Pivot Point R2	76.09
Daily Pivot Point R3	76.28

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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