AUD/JPY Price Analysis: Tweezers-top at weekly tops around 82.20 looms as sellers take control
- The AUD/JPY downward break at 82.00 exerts selling pressure on the pair.
- Dampened market sentiment mood exacerbated demand for the safe-haven JPY.
- A tweezers-top near the weekly tops looms and paves the way towards 80.00.

The AUD/JPY slides for the second time in the week, and from a technical perspective, it is forming a tweezers-top candle chart pattern, retreating from weekly tops around 82.27 to the 81.50s region. At the time of writing is trading at 81.55.
AUD/JPY Price Forecast: Technical outlook
AUD/JPY daily chart, shows that Friday’s price action in the Asian session seesawed around the daily pivot point and February 3 daily high, at 81.89 and 82.27, respectively. However, during the European session, dampened market mood conditions spurred a drop towards 81.32 for a 90-pip fall, stabilizing around the S1 daily pivot at 81.51.
That said, the AUD/JPY remains neutral-bearish biased. Friday’s price action witnessed a downward break of the 50-day moving average (DMA) at 81.58. In the event of a daily close below of it, that will confirm the tweezers-top, which could fuel another leg-down before confirming a bottom.
The AUD/JPY first support would be the February 1 low at 80.89. A downward break would expose the confluence of a bottom-trendline of a bullish-flag and the January 28 daily low at 80.36, followed by the psychological 80.00 barrier.
Author

Christian Borjon Valencia
FXStreet
Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.


















