AUD/JPY Price Analysis: Break of 61.8% Fibonacci signals further selling


  • AUD/JPY drops to the lowest since October 10, 2019.
  • Bearish MACD supports the break of 61.8% Fibonacci retracement, 71.75/85 area in the spotlight.
  • 100-day SMA joins the key Fibonacci retracements to challenge the buyers.

AUD/JPY trades near the lowest in more than a 16-week period while flashing 72.46 as the quote during the early Asian session on Monday. The pair recently broke 61.8% Fibonacci retracement of its run-up from August to December 2019 while bearish MACD signals also favor the pair’s further declines.

In doing so, an area including October 2019 low and highs marked during late-August, around 71.75/85 grab the bears’ attention.

During the pair’s further downside past-71.75, 71.00 and the year 2019 bottom close to 70.30 will be in the spotlight.

Alternatively, 61.8% and 50.00% Fibonacci retracements near 72.70 and 73.45 can limit the pair’s short-term recovery ahead of the 100-day SMA level of 74.30.

If at all prices manage to rise beyond 74.30, buyers targeting 75.00 should return to trading.

AUD/JPY daily chart

Trend: Bearish

Additional important levels

Overview
Today last price 72.47
Today Daily Change -0.06
Today Daily Change % -0.08
Today daily open 72.53
 
Trends
Daily SMA20 74.85
Daily SMA50 74.97
Daily SMA100 74.36
Daily SMA200 74.51
 
Levels
Previous Daily High 73.44
Previous Daily Low 72.46
Previous Weekly High 74.6
Previous Weekly Low 72.46
Previous Monthly High 76.34
Previous Monthly Low 72.46
Daily Fibonacci 38.2% 72.83
Daily Fibonacci 61.8% 73.06
Daily Pivot Point S1 72.18
Daily Pivot Point S2 71.82
Daily Pivot Point S3 71.19
Daily Pivot Point R1 73.16
Daily Pivot Point R2 73.79
Daily Pivot Point R3 74.14

 

 

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