AUD/JPY technical analysis: 61.8% Fibo. offers immediate support

Sustained beak below 21-day EMA portrays AUD/JPY weakness.
Buyers may look for entering above 76.40.

Anil Panchal FXStreet

While sustained trading below the 21-day exponential moving average (EMA) portrays the AUD/JPY pair’s weakness, the quote seesaws near 74.9810 ahead of the EU markets’ open on Monday.

The 74.80/78 area comprising mid-June highs can offer an intermediate halt ahead of dragging prices to 61.8% Fibonacci retracement of the pair recovery from January month’s flash crash to April top, at 74.5470.

In a case where bears keep dominating below 61.8% Fibonacci retracement level, despite oversold conditions of 14-day relative strength index (RSI), June 20 low of 74.13 and the previous month bottom around 73.92 can lure the sellers.

Alternatively, 21-day EMA level of 75.53 acts as an immediate resistance ahead of 50% Fibonacci retracement level of 75.7376. Though, buyers will wait for a successful break beyond May 20 top, surrounding 76.40, before targeting 77.00 round-figure.

AUD/JPY daily chart

Trend: Bearish

Additional important levels

Overview
Today last price	74.98
Today Daily Change	-13 pips
Today Daily Change %	-0.17%
Today daily open	75.11

Trends
Daily SMA20	75.67
Daily SMA50	75.45
Daily SMA100	76.99
Daily SMA200	78.36

Levels
Previous Daily High	75.59
Previous Daily Low	75.02
Previous Weekly High	76.17
Previous Weekly Low	75.02
Previous Monthly High	76.05
Previous Monthly Low	73.92
Daily Fibonacci 38.2%	75.24
Daily Fibonacci 61.8%	75.37
Daily Pivot Point S1	74.89
Daily Pivot Point S2	74.67
Daily Pivot Point S3	74.32
Daily Pivot Point R1	75.46
Daily Pivot Point R2	75.81
Daily Pivot Point R3	76.03

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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