AUD/JPY technical analysis: 50% Fibo. can trigger pullback amid oversold RSI levels


  • Repeated failures to slip beneath 50% Fibo and RSI conditions favor pullback.
  • A downward sloping trend-line since mid-April can the limit upside.

AUD/JPY seesaws near 75.90 ahead of Australian employment data on early Thursday.

The 50% Fibonacci retracement level of January to April upside, near 75.80, acts as immediate support for the pair while 14-day relative strength index (RSI) signals oversold conditions.

Given the nearness to important support and RSI levels, chances of the pair’s pullback to 76.30 are much brighter. However, a month-old descending trend-line at 76.75 could question further upside.

If prices manage to rise past-76.75, buyers’ can again aim for 77.45/50 resistance-area comprising multiple lows marked during January and March.

Meanwhile, a downside break of 75.80 highlights January 04 low near 75.25 as the key level ahead of shifting market attention to July 2016 bottom surrounding 74.50.

Additionally, pair’s sustained declines under 74.50 might not refrain from visiting 2016 low near 72.40.

AUD/JPY daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 75.9
Today Daily Change -22 pips
Today Daily Change % -0.29%
Today daily open 76.12
 
Trends
Daily SMA20 78.21
Daily SMA50 78.69
Daily SMA100 78.54
Daily SMA200 79.76
Levels
Previous Daily High 76.37
Previous Daily Low 75.78
Previous Weekly High 78.05
Previous Weekly Low 76.34
Previous Monthly High 80.75
Previous Monthly Low 78.11
Daily Fibonacci 38.2% 76.14
Daily Fibonacci 61.8% 76.01
Daily Pivot Point S1 75.81
Daily Pivot Point S2 75.5
Daily Pivot Point S3 75.22
Daily Pivot Point R1 76.4
Daily Pivot Point R2 76.68
Daily Pivot Point R3 76.99

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

Euro rolling into the Asian session below the 1.1051 level

The Euro remains under selling pressure below the main SMAs on the four-hour chart. The market is weak and a break below 1.1028 support level could open the doors to further losses.

EUR/USD News

Cable remains bearish below 1.2900 handle

GBP/USD is correcting below the 1.2882/1.2900 resistance zone and the 50/100 SMAs. Buyers would need to overcome this area on a daily basis in order to reclaim the 1.2950 resistance.

GBP/USD News

USD/JPY: Battling to recover the 109.00 threshold

The USD/JPY pair is trading lower in range, hovering around the 109.00 level ahead of the Asian opening. The pair started the day losing some ground, the daily low was set at 108.89.

USD/JPY News

Gold rebounds from multi-month lows, trades around $1,455

After posting its largest weekly percentage drop of the year and erasing more than $50, the troy ounce of the precious metal remained under pressure on Monday with the XAU/USD pair slumping to its lowest level since early August at $1,452.

Gold News

5 Biggest Risks for FX this Week

Monday was a slow start to a busy week for the currency market. The US bond market was closed for Veteran's Day but the stock market was open allowing stocks to consolidate gains. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures