AUD/JPY Price Analysis: Portrays symmetrical triangle on hourly chart


  • AUD/JPY picks up the bids inside a two-day-old symmetrical triangle.
  • 50-HMA adds strength into the triangle resistance, one-week-long falling trend line, 200-HMA offer extra upside barriers.
  • September low can lure bears after the triangle’s downside break.

AUD/JPY rises to 74.70 during the early Asian session on Monday. Although the pair gained bids in the last hour, a short-term symmetrical triangle restricts immediate moves. However, a falling trend line from October 11 and key HMAs probe the bulls.

As a result, the pair’s run-up below the 200-HMA level of 75.52 is less likely to please the bulls. Though, a clear break above 74.71 resistance confluence, comprising the triangle’s resistance and 50-HMA, can help AUD/JPY buyers to attack 74.95.

In a case where the quote crosses 75.52, the 76.00 threshold and the monthly high of 76.52 will gain market attention.

On the contrary, a downside break of the triangle’s support, near 74.50, can challenge the monthly bottom surrounding 74.25 ahead of directing AUD/JPY prices towards the previous month’s low of 73.97.

During the pair’s sustained trading below 73.97, June 12 low of 72.52 will be in the spotlight.

AUD/JPY hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price 74.67
Today Daily Change 0.05
Today Daily Change % 0.07%
Today daily open 74.62
 
Trends
Daily SMA20 75.29
Daily SMA50 76.2
Daily SMA100 75.5
Daily SMA200 72.87
 
Levels
Previous Daily High 74.83
Previous Daily Low 74.39
Previous Weekly High 76.52
Previous Weekly Low 74.26
Previous Monthly High 78.36
Previous Monthly Low 73.97
Daily Fibonacci 38.2% 74.56
Daily Fibonacci 61.8% 74.67
Daily Pivot Point S1 74.4
Daily Pivot Point S2 74.18
Daily Pivot Point S3 73.96
Daily Pivot Point R1 74.84
Daily Pivot Point R2 75.06
Daily Pivot Point R3 75.28

 

 

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