AUD/JPY Price Analysis: Marks another downward swing from 50-bar SMA

AUD/JPY prints fifth failure to cross 50-bar SMA in the last seven days.
Bullish MACD keeps the quote above 200-bar SMA.
Monthly high will get the bull’s attention during the strong upside, sellers may eye August 20 low.

Anil Panchal FXStreet

AUD/JPY stays pressured around 77.00 amid the early Friday morning in Asia. In doing so, the Aussie cross keeps 50-bar SMA as the key immediate resistance since September 03 while 200-bar SMA offers strong downside support.

Considering the pair’s latest pullback from the upside barrier, its drop to 61.8% Fibonacci retracement level of August 20-31 upside, at 76.70, becomes more likely. Though, any further weakness will be challenged by 76.50 level comprising 200-bar SMA.

In a case where the AUD/JPY prices remain depressed below 76.50, the monthly low of 76.12 and August 20 bottom surrounding 75.60 will be in the spotlight.

On the contrary, a clear break above the key SMA resistance, at 77.40 now, can quickly target the 78.00 threshold before diverting the bulls to the month’s peak of 78.36.

Even so, 78.50 and 79.00 are likely to cap the pair’s upside attempts, a break of which can put the 80.00 psychological magnet in the spotlight.

AUD/JPY four-hour chart

Trend: Further declines expected

Additional important levels

Overview
Today last price	77.01
Today Daily Change	-0.32
Today Daily Change %	-0.41%
Today daily open	77.33

Trends
Daily SMA20	76.89
Daily SMA50	75.96
Daily SMA100	73.89
Daily SMA200	72.82

Levels
Previous Daily High	77.43
Previous Daily Low	76.12
Previous Weekly High	78.46
Previous Weekly Low	76.77
Previous Monthly High	78.46
Previous Monthly Low	75.1
Daily Fibonacci 38.2%	76.93
Daily Fibonacci 61.8%	76.62
Daily Pivot Point S1	76.49
Daily Pivot Point S2	75.65
Daily Pivot Point S3	75.18
Daily Pivot Point R1	77.8
Daily Pivot Point R2	78.27
Daily Pivot Point R3	79.11

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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