AUD/JPY Price Analysis: Heavy below 21-day SMA

AUD/JPY remains on the back foot, stays below 21-day SMA.
10-day SMA remains as the near-term key support.
Bullish MACD questions sellers.

Anil Panchal FXStreet

While portraying another failure to cross 21-day SMA, AUD/JPY drops to 66.02 during the early Asian session on Monday. In doing so, the pair slips below 38.2% Fibonacci retracement of its December 2019 to March 2020 fall.

That said, the quote currently declines towards a 10-day SMA level of 65.30. However, bullish MACD conditions are keeping buyers hopeful.

Should there be a clear break below 65.30, 23.6% Fibonacci retracement level of 63.78 and 62.40/35 can please the bears.

On the upside, a daily closing beyond a 21-day SMA level of 67.00 could trigger the pair’s run-up to 68.20 comprising 50% Fibonacci retracement.

However, March 09 high near 69.00 could check the buyers afterward, if not then 70.00 and 50-day SMA near 70.60 could gain the bulls’ attention.

AUD/JPY daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	66
Today Daily Change	-0.64
Today Daily Change %	-0.96%
Today daily open	66.64

Trends
Daily SMA20	66.95
Daily SMA50	70.96
Daily SMA100	72.95
Daily SMA200	73.34

Levels
Previous Daily High	66.94
Previous Daily Low	65.49
Previous Weekly High	67.7
Previous Weekly Low	62.93
Previous Monthly High	74.47
Previous Monthly Low	69.38
Daily Fibonacci 38.2%	66.38
Daily Fibonacci 61.8%	66.04
Daily Pivot Point S1	65.78
Daily Pivot Point S2	64.91
Daily Pivot Point S3	64.33
Daily Pivot Point R1	67.22
Daily Pivot Point R2	67.8
Daily Pivot Point R3	68.67

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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