AUD/JPY Price Analysis: Trades below 20 and 50-SMA crossover near 80.20


  • AUD/JPY edges lower on Wednesday following the previous day’s sell-off.
  • Pair remains under selling pressure for the past week.
  • Momentum oscillator holds onto the overbought zone with receding upside momentum.


AUD/JPY trades lower in the Asian trading hours on Wednesday morning. The pair fell in the previous session, which constitutes a fall of more than 90-pips. As of writing, AUD/JPY  trades at 80.18, down 0.15% for the day.

AUD/JPY daily chart

Technically speaking, after rising from the low of 77.89 made on August 20, the pair came under selling pressure with the formation of an ‘Evening Star’ candlestick pattern on September 6. 

The confirmation of downward momentum came once the formation is followed by the next red candle on the next day.

That being said, the break of the ascending trendline from the mentioned low level, while trading below the 20 and 50-day Simple Moving Averages (SMA) at 80.39 and 80.80 confirms the upcoming fresh selling wave in the pair.

AUD/JPY bear would enjoy the 79.80 horizontal support level as the first downside target.

The receding Moving Average Convergence Divergence (MACD) indicator fuels the probability of the next lower price movement toward the low made on August 27 at 79.41 followed by the 79.00 psychological level.

Alternatively, if the price pushes above the intraday high, it could test the 80.50 horizontal resistance level.

A successful close above the bullish slop line would result in testing the 50-day SMA at 80.80 followed by the 81.50 horizontal resistance level.

AUD/JPY additional levels

AUD/JPY

Overview
Today last price 80.14
Today Daily Change -0.16
Today Daily Change % -0.20
Today daily open 80.3
 
Trends
Daily SMA20 80.36
Daily SMA50 80.86
Daily SMA100 82.6
Daily SMA200 82.16
 
Levels
Previous Daily High 81.15
Previous Daily Low 80.17
Previous Weekly High 81.99
Previous Weekly Low 80.75
Previous Monthly High 81.58
Previous Monthly Low 77.9
Daily Fibonacci 38.2% 80.55
Daily Fibonacci 61.8% 80.78
Daily Pivot Point S1 79.93
Daily Pivot Point S2 79.56
Daily Pivot Point S3 78.96
Daily Pivot Point R1 80.91
Daily Pivot Point R2 81.52
Daily Pivot Point R3 81.88

 

 

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