AUD/JPY Technical Analysis: 79.90 confluence support can challenge sellers

Anil Panchal FXStreet

AUD/JPY is trading near 80.00 as Tokyo opens on Easter Monday.

Even if 14-bar relative strength index (RSI) shows bearish divergence on the 4-hour chart, a horizontal-line stretched since April 16 and a four-week-old ascending trend-line could challenge sellers around 79.90.

As a result, 80.10 and 80.20 are likely to come back on the chart ahead of highlighting 80.50 and a recent high near 80.75 for buyers.

In a case prices rally beyond 80.75, 61.8% Fibonacci expansion (FE) of its moves between April 10 to 18, near 81.00, and December 18 high near 81.20 might flash on the Bulls’ radar.

Alternatively, a downside break of 79.90 may drag the quote to a region surrounding 79.60 that includes multiple highs marked from April 05 to April 11.

During the pair’s additional declines under 79.60, 79.20, 79.00 and 61.8% Fibonacci retracement of March 25 to April 17 upside at 78.75 could be aimed if holding short positions.

AUD/JPY 4-Hour chart

Trend: Bullish

AUD/JPY

Overview
Today last price	79.99
Today Daily Change	-1 pip
Today Daily Change %	-0.01
Today daily open	80

Trends
Daily SMA20	79.38
Daily SMA50	79.06
Daily SMA100	79.04
Daily SMA200	80.16

Levels
Previous Daily High	80.21
Previous Daily Low	79.94
Previous Weekly High	80.75
Previous Weekly Low	79.89
Previous Monthly High	79.66
Previous Monthly Low	77.54
Daily Fibonacci 38.2%	80.04
Daily Fibonacci 61.8%	80.11
Daily Pivot Point S1	79.89
Daily Pivot Point S2	79.77
Daily Pivot Point S3	79.61
Daily Pivot Point R1	80.16
Daily Pivot Point R2	80.33
Daily Pivot Point R3	80.44

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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