AUD/JPY Price Analysis: Depressed above 71.00 after Japanese statistics

AUD/JPY fails to extend the bounce off 71.17 much beyond 71.43.
Japan’s Retail Sales, Tokyo CPI and Unemployment Rate flashed better than forecast results.
200-HMA adds to the downside support below a two-week-old rising trend line.
Buyers will wait for a sustained break above the weekly resistance line.

Anil Panchal FXStreet

AUD/JPY drops to 71.33 after the key economics from Japan recently weighed on the pair amid the initial Asian session on Friday.

Read: Tokyo area May Core CPI +0.2% YoY smashes estimates of ‐0.2％

Even so, the quote stays above an upward sloping trend line stretched from May 15, at 71.20 now, a break of which could drag the AUD/JPY prices towards a 200-HMA level of 70.80.

In a case where the bears dominate past-70.80, 70.00 and May 13 top near 69.75 could become their favorites.

Meanwhile, 71.55 my offer immediate resistance ahead of the weekly falling trend line, currently around 71.75.

Should there be a clear run-up beyond 71.75, 72.00 and January month low near 72.45 may return to the charts.

AUD/JPY hourly chart

Trend: Bullish

Additional important levels

Overview
Today last price	71.4
Today Daily Change	-0.04
Today Daily Change %	-0.06%
Today daily open	71.44

Trends
Daily SMA20	69.79
Daily SMA50	68.39
Daily SMA100	70.28
Daily SMA200	72.14

Levels
Previous Daily High	71.78
Previous Daily Low	71.02
Previous Weekly High	71.08
Previous Weekly Low	68.65
Previous Monthly High	70.17
Previous Monthly Low	64.4
Daily Fibonacci 38.2%	71.49
Daily Fibonacci 61.8%	71.31
Daily Pivot Point S1	71.05
Daily Pivot Point S2	70.65
Daily Pivot Point S3	70.28
Daily Pivot Point R1	71.81
Daily Pivot Point R2	72.18
Daily Pivot Point R3	72.57

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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