AUD/JPY Price Analysis: Weekly rising channel directs bulls toward strong upside barriers


  • AUD/JPY struggles to keep the upside break of 76.00 despite trading near nine-day high.
  • 100-bar SMA restricts immediate advances, confluence of 200-bar SMA and a falling trend line from August 31 is important resistance.
  • Sellers will not risk entries unless witnessing a downside break of short-term channel.

AUD/JPY trades near 75.85 during the early Friday morning in Asia. The pair rose to the highest since September 21 the previous day while following a one-week-old ascending trend channel pattern. However, 100-bar SMA challenges the buyers off-late.

With the bullish MACD signals, the quote may nearby hurdle, 100-bar SMA level of 75.90, but the further rise will be challenged by the mentioned channel’s resistance around 76.20/25.

Even if AUD/JPY bulls manage to cross 76.25 resistance, a joint of 200-bar SMA and a one-month-long descending resistance line, close to 76.45/55, will be a tough nut to crack for them.

Meanwhile, the support line of the channel, at 75.51 now, can stop the short-term downside of AUD/JPY ahead of dragging it below the 75.00 threshold.

In a case where the pair slips below 75.00, September 25 top surrounding 74.60 and the previous month’s low of 73.97 will lure the bears.

AUD/JPY four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 75.82
Today Daily Change 0.29
Today Daily Change % 0.38%
Today daily open 75.53
 
Trends
Daily SMA20 76.15
Daily SMA50 76.22
Daily SMA100 74.9
Daily SMA200 72.88
 
Levels
Previous Daily High 75.7
Previous Daily Low 74.88
Previous Weekly High 76.39
Previous Weekly Low 73.97
Previous Monthly High 78.36
Previous Monthly Low 73.97
Daily Fibonacci 38.2% 75.39
Daily Fibonacci 61.8% 75.19
Daily Pivot Point S1 75.04
Daily Pivot Point S2 74.54
Daily Pivot Point S3 74.21
Daily Pivot Point R1 75.87
Daily Pivot Point R2 76.2
Daily Pivot Point R3 76.69

 

 

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