- AUD/JPY remains on the front foot around four-month high as bulls attack key resistance.
- Overbought RSI conditions may trigger pullback but bears should remain cautious until witnessing a break of 82.90-80 zone.
AUD/JPY renews multi-day top while taking bids near 84.50, up 0.13% intraday ahead of Thursday’s European session.
In doing so, the risk-barometer pair jostles with an upward sloping resistance line from mid-November, around 84.50, amid overbought RSI conditions.
Hence, the odds of a pullback towards the 84.00 threshold are quite higher.
However, a convergence of the 21-DMA, 100-DMA and a five-week-long ascending support line will be a tough nut to crack for AUD/JPY sellers around 82.90-80 afterward.
Should the quote drops below 82.80, odds of witnessing further downside towards January’s low of 80.36 can’t be ruled out.
Alternatively, a daily closing beyond 84.50 will need validation from late October’s swing low near 84.60 to confirm further advances.
Following that, the late 2021 peak of 86.25 will gain the AUD/JPY bull’s attention.
AUD/JPY: Daily chart
Trend: Pullback expected
Additional important levels
|Today last price||84.45|
|Today Daily Change||0.07|
|Today Daily Change %||0.08%|
|Today daily open||84.38|
|Previous Daily High||84.44|
|Previous Daily Low||83.26|
|Previous Weekly High||83.84|
|Previous Weekly Low||82.01|
|Previous Monthly High||83.99|
|Previous Monthly Low||80.91|
|Daily Fibonacci 38.2%||83.99|
|Daily Fibonacci 61.8%||83.71|
|Daily Pivot Point S1||83.61|
|Daily Pivot Point S2||82.85|
|Daily Pivot Point S3||82.43|
|Daily Pivot Point R1||84.8|
|Daily Pivot Point R2||85.21|
|Daily Pivot Point R3||85.98|
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