AUD/JPY technical analysis: 50% Fibo. guards near-term upside


  • Frequent failure to cross 50% Fibonacci retracement portrays the AUD/JPY pair’s weakness.
  • 200-HMA, 7-day old trend-line act as nearby supports.

Despite a week-long ascending trend-line portraying the AUD/JPY pair’s gradual recovery, 50% Fibonacci retracement level continues to act as a near-term strong resistance considering the quote’s latest decline to 74.60 during early Tuesday.

While 200-hour moving average (200-HMA) level of 74.56 seems adjacent support, pair’s further declines will be capped by 23.6% Fibonacci retracement and aforementioned trend-line around 74.35/30.

If sellers manage to drag the pair below 74.30, 74.00 and latest low surrounding 73.92 could flash on their radars.

On the flip side, the successful break of 50% Fibonacci retracement of 74.80 can trigger the pair’s move up towards 61.8% Fibonacci retracement level near 75.00.

Additionally, pair’s sustained rise above 75.00 enables buyers to aim for 75.40 and recent tops near 75.70.

AUD/JPY hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price 74.6
Today Daily Change -10 pips
Today Daily Change % -0.13%
Today daily open 74.7
 
Trends
Daily SMA20 75.14
Daily SMA50 76.6
Daily SMA100 77.76
Daily SMA200 79
Levels
Previous Daily High 74.8
Previous Daily Low 74.35
Previous Weekly High 74.79
Previous Weekly Low 73.92
Previous Monthly High 78.72
Previous Monthly Low 75.08
Daily Fibonacci 38.2% 74.63
Daily Fibonacci 61.8% 74.52
Daily Pivot Point S1 74.43
Daily Pivot Point S2 74.17
Daily Pivot Point S3 73.98
Daily Pivot Point R1 74.88
Daily Pivot Point R2 75.07
Daily Pivot Point R3 75.33

 

 

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