AUD/JPY Price Analysis: Ignores downbeat prints of second-tier Aussie data above 75.00

AUD/JPY bounces off 75.34 after dismal prints of Aussie Building Permits.
Sluggish prints of Australia’s Import Price Index and Export Price Index for Q2 also gets a few audiences.
200-HMA offers immediate resistance inside the short-term rising wedge.

Anil Panchal FXStreet

AUD/JPY seesaws around 75.40 during the Asian session on Thursday. The pair recently shrugged off Australia’s June month Building Permits and the second quarter (Q2) details of Import and Export Price Indexes.

Aussie Building Permits slumped past-0.0% forecast to -4.9% while Import Price Index dropped 1.9% versus -1.0% prior. Further, the Export Price Index reversed the previous 2.7% gains of the first quarter (Q1) with -2.4% figures.

Even so, a 200-HMA level of 75.60, followed by the upper line of a short-term rising wedge bearish formation near 75.65, will keep the pair’s immediate advances under check.

Additionally, a downward sloping trend line from July 22, at 75.82 now, will also be the key upside barrier to watch during the quote’s additional rise.

On the contrary, a downside break below 75.10 will confirm the bearish pattern, which in turn can attack 75.00 as immediate support ahead of aiming for July 24 bottom near 74.85.

AUD/JPY hourly chart

Trend: Pullback expected

additional important levels

Overview
Today last price	75.36
Today Daily Change	-0.06
Today Daily Change %	-0.08%
Today daily open	75.42

Trends
Daily SMA20	75.07
Daily SMA50	74.15
Daily SMA100	70.89
Daily SMA200	72.49

Levels
Previous Daily High	75.52
Previous Daily Low	75.16
Previous Weekly High	76.88
Previous Weekly Low	74.82
Previous Monthly High	76.79
Previous Monthly Low	71.61
Daily Fibonacci 38.2%	75.38
Daily Fibonacci 61.8%	75.29
Daily Pivot Point S1	75.21
Daily Pivot Point S2	75
Daily Pivot Point S3	74.85
Daily Pivot Point R1	75.57
Daily Pivot Point R2	75.72
Daily Pivot Point R3	75.93

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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