AUD/JPY Price Analysis: Heavy below multi-month-old support trendline, 100-day SMA

AUD/JPY sellers catch a breath after breaking key supports (now resistances).
50% Fibonacci retracement, 73.00 can act as nearby supports.
November 2019 top will challenge buyers beyond 23.6% Fibonacci retracement.

Anil Panchal FXStreet

AUD/JPY stays under pressure, mostly quiet off-late, while taking rounds to 73.62 during early Tuesday morning in Asia. The pair slipped to the monthly low after breaking 100-day SMA and an upward sloping trend line since September 02 the previous day.

With this, sellers now take aim at 50% Fibonacci retracement of its August-December 2019 upside, at 73.44, as immediate support. However, multiple stops around 73.00, marked since late-September, could question the pair’s further declines.

In a case where AUD/JPY prices remain weak below 73.00, 61.8% Fibonacci retracement and October 2019 low can please the bears around 72.70 and 71.74 respectively.

Meanwhile, an upside clearance of the confluence of support-turned-resistance and 38.2% Fibonacci retracement, surrounding 71.18/20, will confront a 100-day SMA level of 71.40.

During the pair’s additional rise past-71.40, 23.6% Fibonacci retracement near 75.10 and November 2019 top close to 75.70 will be the bull’s favorites.

AUD/JPY daily chart

Trend: Bearish

Additional important levels

Overview
Today last price	73.63
Today Daily Change	-0.93
Today Daily Change %	-1.25%
Today daily open	74.56

Trends
Daily SMA20	75.5
Daily SMA50	75.02
Daily SMA100	74.39
Daily SMA200	74.65

Levels
Previous Daily High	75.18
Previous Daily Low	74.43
Previous Weekly High	75.9
Previous Weekly Low	74.43
Previous Monthly High	77.45
Previous Monthly Low	73.82
Daily Fibonacci 38.2%	74.71
Daily Fibonacci 61.8%	74.89
Daily Pivot Point S1	74.27
Daily Pivot Point S2	73.97
Daily Pivot Point S3	73.52
Daily Pivot Point R1	75.01
Daily Pivot Point R2	75.47
Daily Pivot Point R3	75.76

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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