AUD/JPY Price Analysis: Ignores China PMI to ease from immediate resistance line above 75.00


  • AUD/JPY sellers attack 75.00 after taking a U-turn from a three-day-old falling trend line.
  • China’s July month official PMIs flashed better than forecast data, Aussie PPI weakened for Q2.
  • A confluence of 200-HMA, 38.2% Fibonacci retracement adds to the upside barriers.

AUD/JPY drops to 75.19, down 0.20% on a day, during the early Friday. The pair recently reacted to Australia’s Producer Price Index (PPI) data for the second quarter (Q2). In doing so, it ignores China’s PMI data for July.

Australia’s Q2 PPI slips below +1.3% YoY forecast and prior to -0.4% while the QoQ figures defy 0.3% market consensus and 0.2% previous readouts with -1.2% data. Earlier, China’s NBS Manufacturing PMI surged past-50.7 forecast and 50.9 earlier readings to 51.1 whereas Non-Manufacturing PMI crossed 51.2 expectations with 54.2 figures.

With the pair’s failure to cross the immediate resistance line, coupled with downbeat data at home and a broad risk-off, the AUD/JPY prices may continue staying pressures. As a result, 75.00 could lure the sellers ahead of highlighting the weekly bottom surrounding 74.80.

During the quote’s further weakness past-74.80, the monthly trough close to 73.90 will be in the spotlight.

On the contrary, 200-HMA and 38.2% Fibonacci retracement of July 22-30 fall, around 75.60 will act as additional resistance beyond the said falling trend line around 75.45.

Should the quote remains positive past-75.60, 61.8% Fibonacci retracement level of 76.10 could challenge the bulls.

AUD/JPY hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price 75.2
Today Daily Change -0.15
Today Daily Change % -0.20%
Today daily open 75.35
 
Trends
Daily SMA20 75.12
Daily SMA50 74.24
Daily SMA100 70.99
Daily SMA200 72.5
 
Levels
Previous Daily High 75.48
Previous Daily Low 74.83
Previous Weekly High 76.88
Previous Weekly Low 74.82
Previous Monthly High 76.79
Previous Monthly Low 71.61
Daily Fibonacci 38.2% 75.08
Daily Fibonacci 61.8% 75.23
Daily Pivot Point S1 74.95
Daily Pivot Point S2 74.56
Daily Pivot Point S3 74.3
Daily Pivot Point R1 75.61
Daily Pivot Point R2 75.88
Daily Pivot Point R3 76.27

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News


Latest Forex News

Editors’ Picks

AUD/USD weaker ahead of RBA’s monetary policy decision

The Aussie is weak, despite receding dollar’s demand and the robust performance of US indexes. Coronavirus developments hit the commodity-linked currency ahead of the RBA.

AUD/USD News

Gold: This just might be as good as it gets for gold

The price of gold is trading at $1,975 within a range of between $1,960.54 and $1,986.76 at the time of writing, virtually flat on the day in consolidation having eeked out a fresh all-time high.

Gold News

USD/JPY struggling to retain the 106.00 level

The USD/JPY pair traded as high as 106.46 on Monday but struggles to retain gains above the 106.00 level amid lack of dollar’s demand.

USD/JPY News

Ethereum on its way to regaining $400 while BNB hit a new high at $22.5

BTC/USD is more stable than other coins right now but has been able to recover from its crash towards $10,500. It is currently trading at $11,369 and faces very little resistance until $14,000.

Read more

WTI drops below $40 on demand worries, OPEC+ output increase

Crude oil prices posted losses last week and seem to be struggling to shake off the bearish pressure on Monday. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $39.85, losing 1.5% on a daily basis.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures