AUD/JPY Price Analysis: Declines further below 200-bar SMA after PBOC rate cut

AUD/JPY fails to hold onto the previous day’s gains amid downbeat fundamentals.
PBOC rate cut, Aussie Unemployment Rate drive the prices lower.
Failure to sustain the break of 50% Fibonacci retracement, 200-bar SMA also weigh on the quote.

Anil Panchal FXStreet

AUD/JPY declines to 74.05, with an intra-day low of 73.93, following the Interest Rate cut by the People’s Bank of China (PBOC) during the early Thursday. The pair earlier reversed from 200-bar SMA while taking clues from the Australian Unemployment Rate.

Read: Breaking: The People's Bank of China cut interest rates: AUD and Yuan sliding

The quote is now declining towards 38.2% Fibonacci retracement of its January month fall, at 73.88 whereas 100-bar SMA around 73.58 can please the sellers afterward.

During the quote’s additional weakness past-73.58, 23.6% Fibonacci retracement, at 73.23, followed by a two-week-old rising trend line around 73.20, can question the sellers.

On the upside, 50% Fibonacci retracement, 200-bar SMA and the latest highs can stop the pair’s recovery moves below 74.50.

However, a sustained run-up beyond 74.50 enables the bulls to aim for 61.8% Fibonacci retracement level of 74.80 and then to 75.00 round-figure.

AUD/JPY four-hour chart

Trend: Bearish

Additional important levels

Overview
Today last price	74.04
Today Daily Change	-0.24
Today Daily Change %	-0.32%
Today daily open	74.28

Trends
Daily SMA20	73.71
Daily SMA50	74.83
Daily SMA100	74.44
Daily SMA200	74.27

Levels
Previous Daily High	74.47
Previous Daily Low	73.43
Previous Weekly High	74.3
Previous Weekly Low	73.06
Previous Monthly High	76.34
Previous Monthly Low	72.46
Daily Fibonacci 38.2%	74.07
Daily Fibonacci 61.8%	73.83
Daily Pivot Point S1	73.64
Daily Pivot Point S2	73.01
Daily Pivot Point S3	72.6
Daily Pivot Point R1	74.69
Daily Pivot Point R2	75.1
Daily Pivot Point R3	75.73

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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