AUD/JPY Technical Analysis: 4-week old trendline caps upside at 79.35, Australian jobs awaited

AUD/JPY is taking the bids around 79.00 on early Thursday.
Pair continues to find difficulties in crossing four-week-old descending trend-line, at 79.35 now, ahead of monthly Australian employment data.
As a result, 50% Fibonacci retracement of February month rise, at 78.65, becomes important for sellers in case job numbers spread disappointment.
Should prices refrain from respecting 78.65 support, 61.8% Fibonacci retracement level near 78.30, followed by 78.10, could lure bears.
Assuming the quote’s extended south-run beneath 78.10, 77.70 and 77.40 could come back on the chart.
Meanwhile, an upside break of 79.35 can quickly trigger price up-moves to 79.60 ahead of highlighting February month high near 79.85 and then drawing market attention to 80.00.
It should also be noted that a price rally beyond 80.00 gives importance to the 200-day simple moving average (SMA) figure of 80.45 as resistance.

Anil Panchal FXStreet

AUD/JPY 4-Hour chart

additional important levels

Overview
Today last price	78.99
Today Daily Change	22 pips
Today Daily Change %	0.28
Today daily open	78.77

Trends
Daily SMA20	78.94
Daily SMA50	78.7
Daily SMA100	79.68
Daily SMA200	80.46

Levels
Previous Daily High	79.32
Previous Daily Low	78.73
Previous Weekly High	79.25
Previous Weekly Low	77.91
Previous Monthly High	79.85
Previous Monthly Low	77.44
Daily Fibonacci 38.2%	78.95
Daily Fibonacci 61.8%	79.09
Daily Pivot Point S1	78.56
Daily Pivot Point S2	78.35
Daily Pivot Point S3	77.97
Daily Pivot Point R1	79.15
Daily Pivot Point R2	79.53
Daily Pivot Point R3	79.74

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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