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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD modestly up for the day, still below 1.0900

The EUR/USD pair is trading marginally higher at the end of Wednesday, as panic eased. Nevertheless, concerns about the coronavirus possible effects on economic growth keep investors in cautious mode.

EUR/USD News

AUD/USD at fresh multi-year lows and at risk of falling further

The Aussie remains among the weakest currencies in the FX sphere, amid Australian economic tights with China. AUD/USD trading at an over one-decade low in the 0.6550 price zone.

AUD/USD News

Crypto Today: Bitcoin bears force devastating break of $9000

BTC/USD is currently trading at $8740 (-6.50%), the bears have smashed the big $9000 mark to the downside. 

Read more

Gold surrenders early gains, refreshes session low around $1630 region

Gold surrendered its early modest gains and has now drifted into the negative territory, refreshing session lows around the $1634-335 region.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures