- 100-HMA and RSI levels challenge post-50-HMA breakout momentum.
- 75.00 can return on the upside break.
Even after clearing 50-HMA, AUD/JPY is still left to cross the 100-HMA upside barrier as it takes the rounds to 74.56 during early Tuesday.
With 14-bar relative strength index (RSI) also indicating nearly overbought conditions, pair’s failure to break the 100-hour moving average (100-HMA) can trigger its pullback to 74.44 comprising 50-HMA.
Given the quote’s extended declines beneath 74.44, 74.35 and 74.18 may offer intermediate halts before highlight latest low of 73.92 and the year 2016 low near 72.40.
Alternatively, an upside clearance of 74.64 resistance including 100-HMA may recall 75.00 back to the chart.
However, 61.8% Fibonacci retracement level of 75.23 and June 11 high surrounding 75.68 can question buyers afterward.
AUD/JPY hourly chart
Trend: Pullback expected
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