AUD/JPY technical analysis: 21-SMA caps immediate upside on H4, all eyes on China data

21-SMA, 200-SMA are crucial upside resistances to watch.
China CPI can give fresh direction.

Anil Panchal FXStreet

Despite refraining from declines beneath 75.39, 21-SMA limits the AUD/JPY pair’s immediate upside as it trades near 75.55 during the early Asian session on Wednesday.

Inflation numbers from Australia’s largest customer China will be in the spotlight for fresh direction. While headline consumer price index (CPI) is expected to increase to 2.7% from 2.5% on YoY, producer price index (PPI) may soften to 0.6% from 0.9% during the month of May.

The 21-bar simple moving average (SMA) at 75.62 becomes an adjacent resistance for the quote to clear in order to 38.2% Fibonacci retracement of the latest downturn from May 03, at 76.14.

However, 200-SMA might confine the pair’s further upside at 76.37, if not then 61.8% Fibonacci retracement level of 76.87 and 77.00 round-figure could gain market attention.

Alternatively, a downside break of 75.39 may recall 75.20 and 74.96 on the chart.

Also, 74.50 and the year 2016 low around 72.40 can entertain bears then after.

AUD/JPY 4-Hour chart

Trend: Sideways to negative

Additional important levels

Overview
Today last price	75.55
Today Daily Change	7 pips
Today Daily Change %	0.09%
Today daily open	75.48

Trends
Daily SMA20	75.71
Daily SMA50	77.56
Daily SMA100	78.15
Daily SMA200	79.25

Levels
Previous Daily High	76.05
Previous Daily Low	75.41
Previous Weekly High	75.91
Previous Weekly Low	74.96
Previous Monthly High	78.72
Previous Monthly Low	75.08
Daily Fibonacci 38.2%	75.65
Daily Fibonacci 61.8%	75.8
Daily Pivot Point S1	75.25
Daily Pivot Point S2	75.01
Daily Pivot Point S3	74.61
Daily Pivot Point R1	75.88
Daily Pivot Point R2	76.28
Daily Pivot Point R3	76.52

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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