AUD/JPY Price Analysis: Bulls attack 100-hour EMA, 75.20 be the key resistance


  • AUD/JPY keeps upside break of a seven-day-old falling trend line.
  • Bullish MACD favors extra run-up but 200-hour EMA, a fortnight old resistance line will question the buyers.
  • Sellers can retake entries below the previous resistance line but 74.00 will be the tough nut to crack.

AUD/JPY picks up bids near 74.60 during the early Tuesday morning in Asia. The aussie cross broke a descending trend line from September 19 the previous day and is currently combating 100-hour EMA.

Considering the pair’s ability to stay past the short-term resistance line, now support, coupled with the bullish MACD, AUD/JPY buyers are likely to stay happy for a bit more beyond the 74.65 immediate upside barrier.

While the anticipated strength can direct the bulls towards the 75.00 threshold, a confluence of 200-hour EMA and a downward sloping trend line from September 15, near 75.20 will be the crucial resistance to watch as a break of which will push AUD/JPY further north towards 76.00.

Alternatively, 74.40 can act as the nearby support for the pair during its pullback, a break of which will highlight the previous resistance line, at 74.25 now.

It should, however, be noted that the bears will remain cautious unless breaking the monthly low of 74.00 that holds the gate to further declines targeting the late-June lows near 73.30.

AUD/JPY hourly chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price 74.63
Today Daily Change 0.39
Today Daily Change % 0.53%
Today daily open 74.24
 
Trends
Daily SMA20 76.59
Daily SMA50 76.27
Daily SMA100 74.73
Daily SMA200 72.88
 
Levels
Previous Daily High 74.63
Previous Daily Low 74.01
Previous Weekly High 76.39
Previous Weekly Low 73.97
Previous Monthly High 78.46
Previous Monthly Low 75.1
Daily Fibonacci 38.2% 74.25
Daily Fibonacci 61.8% 74.39
Daily Pivot Point S1 73.96
Daily Pivot Point S2 73.68
Daily Pivot Point S3 73.35
Daily Pivot Point R1 74.58
Daily Pivot Point R2 74.91
Daily Pivot Point R3 75.19

 

 

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