AUD/JPY Price Analysis: Breaks weekly support trendline, slips below 66.00


  • AUD/JPY confirms the downside break of a two-week-old ascending triangle.
  • 38.2% Fibonacci retracement can offer immediate support.
  • 61.8% of Fibonacci retracement will validate upside past the triangle’s resistance line.

Following its U-turn from the two-week-old horizontal resistance, AUD/JPY confirms short-term rising triangle formation while declining below the support line to 65.70 during the early Asian session on Thursday.

The pair currently rests near 38.2% Fibonacci retracement of its one-month fall between February 19 and March 19, 2020.

While the confirmation of a bearish signal, coupled with the weakness in the MACD histogram, the pair is expected to stretch the recent declines.

In doing so, 63.90 and 23.6% Fibonacci retracement level of 63.30 can please short-term sellers ahead of diverting them towards 60.00 round-figure.

On the upside, 61.8% Fibonacci retracement, at 68.90, will be the validation point for the pair’s rise above the triangle’s resistance line around 67.70.

It should also be noted that the support-turned-resistance trend line, near 66.40, followed by a 50% Fibonacci retracement level of 67.20, can challenge the pair’s pullback moves.

AUD/JPY four-hour chart

Trend: Bearish

Additional important levels

Overview
Today last price 65.89
Today Daily Change -0.37
Today Daily Change % -0.56%
Today daily open 66.26
 
Trends
Daily SMA20 67.73
Daily SMA50 71.53
Daily SMA100 73.21
Daily SMA200 73.46
 
Levels
Previous Daily High 66.34
Previous Daily Low 64.66
Previous Weekly High 66.25
Previous Weekly Low 59.9
Previous Monthly High 74.47
Previous Monthly Low 69.38
Daily Fibonacci 38.2% 65.7
Daily Fibonacci 61.8% 65.3
Daily Pivot Point S1 65.16
Daily Pivot Point S2 64.07
Daily Pivot Point S3 63.48
Daily Pivot Point R1 66.85
Daily Pivot Point R2 67.44
Daily Pivot Point R3 68.53

 

 

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