AUD/JPY Technical Analysis: 79.50 acts as immediate upside barrier ahead of BoJ


  • AUD/JPY trades near 78.20 ahead of the Bank of Japan’s (BoJ) monetary policy meeting on early Friday.
  • The quote recently confirmed inverse head and shoulders bullish formation by clearing 79.00 on hourly chart and is presently rising toward three-week-old descending trend-line, at 79.50.
  • Should prices manage to cross 79.50 immediate upside barrier, February month highs near 79.80/85 could act as buffers prior to highlighting 80.00 round-figure.
  • Also, 61.8% Fibonacci expansion (FE) of its early January – March moves, around 80.60, may gain buyers’ attention post-80.00.
  • Alternatively, pair’s dip beneath 79.00 can take rest on a weeklong upward sloping support-line at 78.60, a break of which may extend the pullback to 78.30 and 78.00.
  • However, an ascending trend-line stretched since January 07 can challenge sellers around 77.70, if not then 77.00 can come back on the chart.

AUD/JPY 4-Hour chart

Additional important levels:

Overview:
    Today Last Price: 79.16
    Today Daily change: 25 pips
    Today Daily change %: 0.32%
    Today Daily Open: 78.91
Trends:
    Daily SMA20: 78.97
    Daily SMA50: 78.58
    Daily SMA100: 79.71
    Daily SMA200: 80.55
Levels:
    Previous Daily High: 78.98
    Previous Daily Low: 78.57
    Previous Weekly High: 79.65
    Previous Weekly Low: 77.72
    Previous Monthly High: 79.85
    Previous Monthly Low: 77.44
    Daily Fibonacci 38.2%: 78.82
    Daily Fibonacci 61.8%: 78.73
    Daily Pivot Point S1: 78.66
    Daily Pivot Point S2: 78.41
    Daily Pivot Point S3: 78.25
    Daily Pivot Point R1: 79.07
    Daily Pivot Point R2: 79.23
    Daily Pivot Point R3: 79.48

 

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