AUD/JPY Price Analysis: Challenges daily high, approaches 85.50

AUD/JPY consolidates near daily highs in the Asian session.
Bulls face a stiff resistance zone near the 85.30 area.
Momentum oscillator signals continuation of the upward momentum.

Rekha Chauhan Independent Analyst

The AUD/JPY cross maintains a steady tone in the Asian session and trades near the daily highs at 85.25.

AUD/JPY daily chart

On the daily chart, the cross has been accumulating gains near the session’s high. The cross is in continuous upward motion since April 23 from the lows of 83.09 and hit the YTD high at 85.80 on Monday.

The Moving Average Convergence Divergence (MACD) indicator, placed well above the midline, hints at a continuation of the northern move for AUD/JPY. On moving higher, the price would test the 85.50 horizontal resistance area, followed by the high of Monday at 85.80

The next area of resistance could be the June 2017 high at 86.55.

Alternatively, on the downside, immediate support is placed at the 23.6% Fibonacci retracement (from lows of 82.28) near the 85.00 area.

The next support area could be the Friday low at 84.72, followed by Thursday’s low at 84.24.

AUD/JPY Additional Levels

AUD/JPY

Overview
Today last price	85.11
Today Daily Change	-0.07
Today Daily Change %	-0.08
Today daily open	85.18

Trends
Daily SMA20	84.34
Daily SMA50	84.03
Daily SMA100	82.37
Daily SMA200	79.3

Levels
Previous Daily High	85.44
Previous Daily Low	84.82
Previous Weekly High	85.32
Previous Weekly Low	83.93
Previous Monthly High	85.01
Previous Monthly Low	83.04
Daily Fibonacci 38.2%	85.06
Daily Fibonacci 61.8%	85.21
Daily Pivot Point S1	84.86
Daily Pivot Point S2	84.53
Daily Pivot Point S3	84.23
Daily Pivot Point R1	85.48
Daily Pivot Point R2	85.77
Daily Pivot Point R3	86.1

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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