AUD/JPY technical analysis: 50-bar EMA, 61.8% Fibo. cap immediate downside

AUD/JPY stays above 73.80/82 support confluence including 50-bar EMA and 61.8% Fibonacci retracement.
A falling trend-line since July-end restricts nearby upside.

Anil Panchal FXStreet

Despite showing fewer moves off-late AUD/JPY stays well above key support-confluence while flashing 74.00 as a quote during the early Asian session on Thursday.

The 50-dar exponential moving average (EMA) and 61.8% Fibonacci retracement of July-August declines together constitute 73.82/80 support-joint that becomes the key for sellers to watch as a downside break of which could drag the quote to September 10 low near 73.42 before highlighting 50% Fibonacci retracement level of 73.07 for bears to watch.

It should, however, be noted that August 13 top surrounding 72.90 could restrict the pair’s declines below 73.07.

Alternatively, a downward sloping trend-line since July 31, near 74.50, acts as an immediate resistance, a break of which can escalate the run-up towards 75.00 and July 25 high close to 75.60 whereas July month peak around 76.20 could lure bulls afterward.

AUD/JPY 4-hour chart

Trend: sideways

additional important levels

Overview
Today last price	74.04
Today Daily Change	-19 pips
Today Daily Change %	-0.26%
Today daily open	74.23

Trends
Daily SMA20	72.66
Daily SMA50	73.39
Daily SMA100	74.57
Daily SMA200	76.69

Levels
Previous Daily High	74.3
Previous Daily Low	73.89
Previous Weekly High	74.5
Previous Weekly Low	73.03
Previous Monthly High	74.87
Previous Monthly Low	69.97
Daily Fibonacci 38.2%	74.14
Daily Fibonacci 61.8%	74.05
Daily Pivot Point S1	73.98
Daily Pivot Point S2	73.73
Daily Pivot Point S3	73.57
Daily Pivot Point R1	74.39
Daily Pivot Point R2	74.55
Daily Pivot Point R3	74.8

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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