AUD/JPY Price Analysis: Eases from one-week high, monthly resistance line in focus

AUD/JPY fails to extend the previous two-day winning streak while receding from 76.56.
Bearish MACD, pullback before short-term upside hurdle keeps the sellers hopeful.
21-day SMA can offer immediate support ahead of an ascending trend line from July 30.

Anil Panchal FXStreet

AUD/JPY eases to 76.50 amid the pre-Tokyo Asian trading on Wednesday. The aussie cross surged to one-week high following the latest two-day run-up. Though, bulls stepped back even before a five-week-old resistance line play its role.

The recent consolidation in AUD/JPY prices gains support from the bearish MACD to suggest further declines toward a 21-day SMA level near 76.00 round-figures.

However, a short-term rising support line, at 75.76 now, will restrict the quote’s additional downside, if not then the monthly low around 75.10 and July 30 bottom of 74.72 will be in the spotlight.

On the contrary, the pair’s fresh rise will have a bumpy road ahead as not only a falling trend line from July 22, currently near 76.65, but July month’s top of 76.87 and the 77.300 threshold could also challenge the bulls.

AUD/JPY daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	76.51
Today Daily Change	0.60
Today Daily Change %	0.79%
Today daily open	75.91

Trends
Daily SMA20	75.95
Daily SMA50	75.1
Daily SMA100	72.8
Daily SMA200	72.62

Levels
Previous Daily High	76.15
Previous Daily Low	75.67
Previous Weekly High	76.68
Previous Weekly Low	75.61
Previous Monthly High	76.88
Previous Monthly Low	73.92
Daily Fibonacci 38.2%	75.97
Daily Fibonacci 61.8%	75.85
Daily Pivot Point S1	75.67
Daily Pivot Point S2	75.43
Daily Pivot Point S3	75.18
Daily Pivot Point R1	76.15
Daily Pivot Point R2	76.39
Daily Pivot Point R3	76.63

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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