AUD/JPY Price Analysis: Drops 0.40%, breaching three-week bullish trendline


  • AUD/JPY drops below trendline rising from June 21 lows. 
  • Yen draws haven bids on the resurgence of coronavirus cases. 

The lockdown fears fueled by the rising number of coronavirus cases in the US and the resulting risk-off in the US and Asian equities are pushing the anti-risk Japanese yen higher across the board. 

The AUD/JPY pair is trading in the red near 74.31 at press time, representing nearly a 0.40% decline on the day. 

The JPY cross has breached the ascending trendline rising from lows seen on June 21 and June 28, having dived out of a sideways channel early Friday, as seen on the 4-hour chart. The breakdown is backed by a below-50 or bearish reading on the 14-day relative strength index. 

As such, the pair risks falling to the psychological support of 74.00 ahead of the weekend. 

4-hour chart

Trend: Bearish

Technical levels

AUD/JPY

Overview
Today last price 74.31
Today Daily Change -0.35
Today Daily Change % -0.47
Today daily open 74.66
 
Trends
Daily SMA20 74.07
Daily SMA50 72.48
Daily SMA100 70.27
Daily SMA200 72.37
 
Levels
Previous Daily High 75.06
Previous Daily Low 74.57
Previous Weekly High 74.71
Previous Weekly Low 73.36
Previous Monthly High 76.79
Previous Monthly Low 71.61
Daily Fibonacci 38.2% 74.76
Daily Fibonacci 61.8% 74.87
Daily Pivot Point S1 74.46
Daily Pivot Point S2 74.27
Daily Pivot Point S3 73.97
Daily Pivot Point R1 74.96
Daily Pivot Point R2 75.26
Daily Pivot Point R3 75.45

 

 

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