- AUD/JPY seesaws in a choppy range between 70.55 and 70.75 after confirming the bearish chart pattern.
- A sustained break of immediate support line highlights 200-HMA.
- Bulls can target March high beyond 71.15.
AUD/JPY takes rounds to 70.70/65 amid the initial Asian session on Friday. That said, the pair confirmed a bearish technical formation by slipping below 70.70. However, an immediate ascending support line seems to restrict the pair’s latest fall.
As a result, sellers await the downside break of 70.55 support to extend the fall towards a 200-HMA level of 69.77. Though, 70.00 may offer an intermediate halt during the declines.
It should also be noted that May 15 high near 69.54 may check bears below 200-HMA.
Alternatively, an upside break beyond 70.70 can trigger the pair’s fresh recovery moves toward a three-day-old rising trend line, at 71.15 now.
In a case where the bulls manage to conquer 71.15, March month high around 71.50/55 will be on their radars.
AUD/JPY hourly chart
Trend: Further selling expected
Additional important levels
|Today last price||70.65|
|Today Daily Change||-0.29|
|Today Daily Change %||-0.41%|
|Today daily open||70.94|
|Previous Daily High||71.03|
|Previous Daily Low||70.27|
|Previous Weekly High||70.18|
|Previous Weekly Low||68.55|
|Previous Monthly High||70.17|
|Previous Monthly Low||64.4|
|Daily Fibonacci 38.2%||70.74|
|Daily Fibonacci 61.8%||70.56|
|Daily Pivot Point S1||70.47|
|Daily Pivot Point S2||69.99|
|Daily Pivot Point S3||69.7|
|Daily Pivot Point R1||71.23|
|Daily Pivot Point R2||71.51|
|Daily Pivot Point R3||71.99|
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