• AUD/JPY edges higher on Friday following the previous session’s downside momentum.
  • Additional gains visible for pair, if price decisively breaks 81.05.
  • Momentum oscillator holds onto the oversold zone with a positive stance.

AUD/JPY edges higher with substantial gains in the Asian session. The pair opened higher and looks to move beyond 81.05.

At the time of writing, AUD/JPY is trading at 81.05, up 0.12% for the day.

AUD/JPY daily chart

On the daily chart, the AUD/JPY pair has taken the support near the double bottom formation around 80.15. After breaking the 20-day Simple Moving Average (SMA) below 84.25 on June 16, the pair has been under continuous selling pressure.

If price sustained above the intraday high at 81.15, it could move back to the previous session’s high of 81.46.

The Moving Average Convergence Divergence (MACD) indicator trades in the oversold zone. Any uptick in the MACD could amplify the upside momentum. 

In doing so, the buyers would test the 81.80 horizontal resistance level followed by the July 15 at 82.33.

Alternatively, if price starts moving lower, it would continue with the prevailing trend with the first downside target at the 80.75 horizontal support level

The price action suggests further downside for the pair. 

Next, AUD/JPY bears would target the low of August 4 at 80.52.

A daily close below the mentioned level would open the gates for the 80.20 horizontal support level.

AUD/JPY additional levels

AUD/JPY

Overview
Today last price 81.05
Today Daily Change -0.38
Today Daily Change % -0.47
Today daily open 81.43
 
Trends
Daily SMA20 81.03
Daily SMA50 82.58
Daily SMA100 83.43
Daily SMA200 81.7
 
Levels
Previous Daily High 81.58
Previous Daily Low 81.11
Previous Weekly High 81.4
Previous Weekly Low 80.16
Previous Monthly High 84.2
Previous Monthly Low 79.84
Daily Fibonacci 38.2% 81.15
Daily Fibonacci 61.8% 81.27
Daily Pivot Point S1 81.16
Daily Pivot Point S2 80.9
Daily Pivot Point S3 80.69
Daily Pivot Point R1 81.64
Daily Pivot Point R2 81.85
Daily Pivot Point R3 82.11

 


 

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