AUD/JPY Price Analysis: Teases 2019 high on the way to seven-month-old resistance line

AUD/JPY battles 21-month peak following its upside break of two-month-old trend line resistance.
Overbought RSI, multi-month high probes the bulls targeting December 2018 levels.

Anil Panchal FXStreet

Having recently ticked up to 80.68, AUD/JPY wavers around the highest since April 2019, currently near 80.62, during the initial Asian trading on Friday. The pair marked a three-day uptrend while keeping the upside break of an ascending trend line from early November the previous day. However, overbought RSI and the key resistance probe bulls by the time of writing.

Despite the latest pause in AUD/JPY upside, bullish MACD and a sustained break of the previous key resistance line keeps the buyers directed towards the multi-month peak of 80.72 ahead of confronting a resistance line stretched from June 2020 peak, at 81.08 now.

While the 80.00 round-figure adds to the upside filters, the late November 2018 low near 81.20 and the December peak of that year, close to 82.20, will lure the AUD/JPY optimists afterward.

Alternatively, the previous resistance, at 80.20 now, precedes the 80.00 psychological magnet to challenge the short-term AUD/JPY sellers.

Also acting as the key downside supports are December 17 top near 79.80 and another upward sloping support line from November 02 near 79.15.

Overall, the AUD/JPY remains on the uptrend unless witnessing the immediate support lines.

AUD/JPY daily chart

Trend: Bullish

Additional important levels

Overview
Today last price	80.66
Today Daily Change	0.30
Today Daily Change %	0.37%
Today daily open	80.36

Trends
Daily SMA20	78.83
Daily SMA50	77.22
Daily SMA100	76.56
Daily SMA200	74.53

Levels
Previous Daily High	80.52
Previous Daily Low	79.53
Previous Weekly High	79.79
Previous Weekly Low	78.48
Previous Monthly High	79.79
Previous Monthly Low	76.58
Daily Fibonacci 38.2%	80.14
Daily Fibonacci 61.8%	79.91
Daily Pivot Point S1	79.75
Daily Pivot Point S2	79.15
Daily Pivot Point S3	78.77
Daily Pivot Point R1	80.74
Daily Pivot Point R2	81.12
Daily Pivot Point R3	81.72

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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