• AUD/JPY seesaws around monthly top after rising the most in over a week.
  • Firmer Momentum line, sustained break of previous resistance lines keep buyers hopeful.
  • 200-DMA adds to the upside filters, 50% Fibonacci retracement level limits immediate declines.

AUD/JPY takes rounds to 81.75 following the break of a descending resistance line from early November, now support.

The cross-currency pair’s recently sidelined performance could be linked to traders’ wait for November’s Australia jobs report, as well as failures to cross the 100-DMA.

Read: Australian Employment Preview: Rebound from Delta lockdowns may not be enough for the aussie

It should be noted, however, that a successful break of the previous resistance lines from November and firmer Momentum line favor the AUD/JPY pair’s further upside.

Even so, November 19 swing low around 82.15 and the 200-DMA level of 82.75 challenge the pair buyers.

Also acting as an upside filter is the 61.8% Fibonacci retracement (Fibo.) of AUD/JPY downside from late October to December 03, at 83.40 by the press time.

Alternatively, a U-turn from the 100-DMA level near 81.80 will retest the resistance-turned-support lines around 81.15 and 80.80 before directing AUD/JPY sellers towards the 23.6% Fibonacci retracement level of 80.55.

In a case where AUD/JPY prices remain weak past 80.55, the 80.00 threshold and the monthly low near 78.80 will lure the pair sellers.

AUD/JPY: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 81.75
Today Daily Change 0.96
Today Daily Change % 1.19%
Today daily open 80.79
 
Trends
Daily SMA20 81.44
Daily SMA50 83.1
Daily SMA100 81.78
Daily SMA200 82.78
 
Levels
Previous Daily High 81.15
Previous Daily Low 80.48
Previous Weekly High 81.72
Previous Weekly Low 78.94
Previous Monthly High 86.06
Previous Monthly Low 80.12
Daily Fibonacci 38.2% 80.74
Daily Fibonacci 61.8% 80.9
Daily Pivot Point S1 80.46
Daily Pivot Point S2 80.13
Daily Pivot Point S3 79.79
Daily Pivot Point R1 81.13
Daily Pivot Point R2 81.48
Daily Pivot Point R3 81.81

 

 

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