AUD/JPY Price Analysis: Eases from two-week-old resistance around 83.50


  • AUD/JPY fades Friday’s recovery moves below multiple key hurdles.
  • 100-SMA, monthly resistance line offers a strong upside barrier.
  • Two-week-old rising trend line restricts near-term losses, bullish MACD favor buyers.

AUD/JPY fails to extend Friday’s run-up, drops back to 83.50 amid the initial Asian session on Monday. In doing so, the cross-currency pair justifies the previous day’s inability to cross the near-term horizontal line even as bullish MACD signals back recovery moves.

Even if the buyers cross the 83.65 immediate resistance, a convergence of 100-SMA and a one-month-old falling trend line near 83.75-80 will be a tough nut to crack for them. Also acting as an upside filter is the 200-SMA level of 84.20.

In a case where AUD/JPY rallies beyond 84.20, early June’s lows surrounding 84.45-50 may test the pair’s further upside ahead of directing the bulls to the 85.00 threshold and then to the previous month’s peak close to 85.20.

Meanwhile, pullback moves signal a retest of an upward sloping support line from June 21, near the 83.00 round figure.

However, any further downside past the 83.00 support will be challenged by a horizontal area comprising multiple levels marked since June 18, around 82.75-80.

Overall, AUD/USD remains sidelined but the latest pullback could test the short-term support.

AUD/JPY: Four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 83.51
Today Daily Change -0.07
Today Daily Change % -0.08%
Today daily open 83.58
 
Trends
Daily SMA20 83.94
Daily SMA50 84.38
Daily SMA100 83.99
Daily SMA200 80.79
 
Levels
Previous Daily High 83.64
Previous Daily Low 83.04
Previous Weekly High 84.2
Previous Weekly Low 82.82
Previous Monthly High 85.2
Previous Monthly Low 82.14
Daily Fibonacci 38.2% 83.41
Daily Fibonacci 61.8% 83.27
Daily Pivot Point S1 83.2
Daily Pivot Point S2 82.82
Daily Pivot Point S3 82.6
Daily Pivot Point R1 83.8
Daily Pivot Point R2 84.02
Daily Pivot Point R3 84.39

 

 

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