AUD/JPY Price Analysis: Monthly resistance trend line in focus

AUD/JPY seesaws in a 20-pip range.
A daily close beyond 21-day SMA, bullish MACD favor buyers.
Sellers will seek entries below Thursday’s low.

Anil Panchal FXStreet

Despite trading in a range between 66.35 and 66.55 since Monday’s US session, currently around 66.30, AUD/JPY remains mildly on the back foot, down 0.10%, amid the early Tuesday morning in Asia.

While the pair’s first daily closing beyond 21-day SMA since early-February, coupled with the bullish MACD, keep buyers hopeful, a downward sloping trend line from March 10 seems to be an immediate challenge.

On the break of 66.70 resistance line, 67.00 and March 25 high near 67.70 will be on the bull’s radar.

Further, 61.8% Fibonacci retracement of February-March declines, near 68.90, could lure the buyers beyond 67.70.

Meanwhile, a daily break below the 21-day SMA level of 65.70 might push sellers to await further downside under Thursday’s low of 64.40 to target 23.6% Fibonacci retracement level of 63.30.

AUD/JPY daily chart

Trend: Further recovery expected

Additinal important levels

Overview
Today last price	66.46
Today Daily Change	1.38
Today Daily Change %	2.12%
Today daily open	65.08

Trends
Daily SMA20	65.72
Daily SMA50	70.01
Daily SMA100	72.52
Daily SMA200	73.1

Levels
Previous Daily High	65.62
Previous Daily Low	64.83
Previous Weekly High	67.27
Previous Weekly Low	64.4
Previous Monthly High	71.52
Previous Monthly Low	59.9
Daily Fibonacci 38.2%	65.13
Daily Fibonacci 61.8%	65.32
Daily Pivot Point S1	64.74
Daily Pivot Point S2	64.4
Daily Pivot Point S3	63.96
Daily Pivot Point R1	65.52
Daily Pivot Point R2	65.96
Daily Pivot Point R3	66.31

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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