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

EUR/USD retreats on the hawkish Fed cut

EUR/USD is trading closer to 1.10 after the Fed cut rates but signaled no further rate reductions. The bank acknowledged the strong labor market and robust consumption. However, it is worried about investment.

EUR/USD News

GBP/USD falls further away from 1.25 after the Fed

GBP/USD is trading further below 1.2500 after the Fed cut rates but signaled no fresh moves. The Brexit impasse and weak UK inflation figures weigh. 

GBP/USD News

USD/JPY pops 20 pips on the as expected Fed

USD/JPY is currently trading at 108.32 following the FOMC, travelling between 108.08 and 108.33 but is virtually flat on the day as the Fed lowered rats as expected by 25 basis points.

USD/JPY News

Gold drops on strength in the Greenback following a dubious Fed rate cut

Gold prices have dropped on the Federal Reserve decision whereby no real assurance of more cuts down the line were presented. However, the door has been left open which limits the downside potential in this move.

Gold News

Australian Employment Preview: The Fed and then the RBA

Higher unemployment could set the stage for RBA cuts. Employment is expected to increase by 10,000 in August after July’s addition of 41,100. Federal Reserve rate decision and economic projections in the background

Read more

Forex MAJORS

Cryptocurrencies

Signatures