AUD/JPY Price Analysis: Drops from fresh 11-week top to revisit sub-77.00 area

AUD/JPY refreshes intraday low while breaking 100-HMA.
Marks repeated reversal from 77.00, one-week-old ascending triangle becomes the key to watch amid bearish MACD.

Anil Panchal FXStreet

AUD/JPY drops to 76.74, down 0.12% intraday, during the early Monday. The quote rose to the highest since the mid-September during early Asia before taking a U-turn from 77.11.

In doing so, the AUD/JPY bulls mark another resistance to accept the ride beyond the 77.00, considering the last Wednesday’s pullback from 77.04.

The latest declines get validation from a downside break of 100-HMA and bearish MACD to suggest further weakness.

However, the support line of the short-term ascending triangle established since last Tuesday, at 76.60 now, holds the gate for the extended south-run targeting 200-HMA level of 76.30.

Meanwhile, a sustained break above 77.00 will have to refresh the multi-day high of 77.11 while targeting the September 11 top near 77.75.

AUD/JPY hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	76.74
Today Daily Change	-0.10
Today Daily Change %	-0.13%
Today daily open	76.84

Trends
Daily SMA20	75.99
Daily SMA50	75.36
Daily SMA100	75.82
Daily SMA200	73.04

Levels
Previous Daily High	76.96
Previous Daily Low	76.5
Previous Weekly High	77.04
Previous Weekly Low	75.79
Previous Monthly High	76.52
Previous Monthly Low	73.14
Daily Fibonacci 38.2%	76.78
Daily Fibonacci 61.8%	76.67
Daily Pivot Point S1	76.58
Daily Pivot Point S2	76.31
Daily Pivot Point S3	76.12
Daily Pivot Point R1	77.03
Daily Pivot Point R2	77.22
Daily Pivot Point R3	77.49

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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