AUD/JPY Price Analysis: Remains pressured towards 200-DMA


  • AUD/JPY fades bounce off monthly low amid a slow start to the week.
  • Bearish MACD, three-week-old resistance line keeps sellers hopeful.
  • Oversold RSI, 200-DMA can test bears ahead of January high.

AUD/JPY stays pressured around 81.45 amid a subdued Asian trading session on Monday. In doing so, the cross-currency pair fails to keep Friday’s bounce off the monthly low while staying beneath a downward sloping trend line since June 25. Also favoring the sellers are the MACD signals.

However, oversold RSI and nearness to the key moving average challenges the pair’s further downside.

For now, AUD/JPY trades are well-directed towards 200-DMA support near 81.20, followed by the 81.00 threshold. Though, January’s top near 80.90 could challenge the pair’s further weakness.

In a case where the bears keep reins below 80.90, the 50% Fibonacci retracement of September 2020 to May 2021 upside, near 79.50, will be the key to watch.

Meanwhile, any corrective pullback will be considered tepid until staying below a short-term resistance line around 82.30.

Following that, the latest swing high near 82.80 and April’s low near the 83.00 round figure could lure the bulls.

AUD/JPY: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 81.47
Today Daily Change 0.03
Today Daily Change % 0.04%
Today daily open 81.44
 
Trends
Daily SMA20 82.97
Daily SMA50 83.93
Daily SMA100 83.95
Daily SMA200 81.13
 
Levels
Previous Daily High 81.94
Previous Daily Low 81.35
Previous Weekly High 82.82
Previous Weekly Low 81.35
Previous Monthly High 85.2
Previous Monthly Low 82.14
Daily Fibonacci 38.2% 81.58
Daily Fibonacci 61.8% 81.72
Daily Pivot Point S1 81.21
Daily Pivot Point S2 80.98
Daily Pivot Point S3 80.61
Daily Pivot Point R1 81.81
Daily Pivot Point R2 82.17
Daily Pivot Point R3 82.4

 

 

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