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 from high, comfortable at higher ground

The EUR/USD pair is trading close but below 1.1300, as the positive momentum was dented by deteriorating EU Consumer Confidence. Dollar remains weak post-Fed.

EUR/USD News

GBP/USD: Buyers and sellers jostle around 1.2700

With the storm around global financial markets taking a halt after the central bankers’ bearish appearances and the end of the initial selection process for the UK’s PM, the GBP/USD pair cling to 1.2700.

GBP/USD News

USD/JPY drops to multi-month lows below 107.50 amid escalating geopolitical tensions

After dropping to its lowest level since early January at 107.47, the USD/JPYpair retraced a small portion of its daily fall but came under renewed bearish pressure in the American session.

USD/JPY News

Gold fluctuates near multi-year highs above $1380, adds more than $20 on the day

With major central banks adopting a more cautious tone with regards to the economic outlook and hinting at rate cuts this week, gold became an investor favourite & the troy ounce of the precious metal rose more than $50 since the start of the week.

Gold News

FOMC: Prelude to a rate cut?

The Federal Reserve added little new to its policy prescript in Wednesday’s FOMC statement and economic projections and with the anticipation for a July rate cut long priced into market levels the reaction was decidedly uninvolved.

Read more

Majors

Cryptocurrencies

Signatures