AUD/JPY Price Analysis: Recedes towards weekly support line below 77.00

AUD/JPY fades upside momentum, extends Wednesday’s pullback from 77.00.
Bearish MACD suggests further weakness, bulls can stay hopeful unless witnessing a break of monthly rising trend line support.

Anil Panchal FXStreet

AUD/JPY eases to 76.72 amid the early Friday morning in Asia. In doing so, the pair directs the recently downbeat performance towards an immediate support line amid bearish MACD.

Although the 76.60 support line figure can challenge the AUD/JPY buyers, the upside hopes remain unless the quote drops below an ascending trend line from November 01, at 76.18 now.

It should also be noted that the lows marked during the late last week, around 75.50/45 offer additional filters to the downside.

Meanwhile, a two-day-old falling trend line near 76.90 probes recovery moves, if any, ahead of the monthly top around 77.05/10.

In a case where the AUD/JPY bulls keep the reins past-77.10, the September 10 high near 77.70/75 will be in the spotlight.

AUD/JPY four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	76.74
Today Daily Change	-0.20
Today Daily Change %	-0.26%
Today daily open	76.94

Trends
Daily SMA20	75.67
Daily SMA50	75.35
Daily SMA100	75.77
Daily SMA200	73.02

Levels
Previous Daily High	77.04
Previous Daily Low	76.46
Previous Weekly High	76.77
Previous Weekly Low	75.41
Previous Monthly High	76.52
Previous Monthly Low	73.14
Daily Fibonacci 38.2%	76.82
Daily Fibonacci 61.8%	76.68
Daily Pivot Point S1	76.58
Daily Pivot Point S2	76.23
Daily Pivot Point S3	76
Daily Pivot Point R1	77.17
Daily Pivot Point R2	77.4
Daily Pivot Point R3	77.76

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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