AUD/JPY technical analysis: Another run-up towards 21-DMA

The four-day-old support-line favor AUD/JPY to again confront 21-DMA.
Downward sloping trend-lines from August 02 and 13 become additional upside barriers.

Anil Panchal FXStreet

Sustained trading beyond four-day-old rising trend-line favors AUD/JPY to aim for 21-day simple moving average (DMA) as it makes the rounds to 71.70 during early Asian session on Friday.

Other than 21-DMA level of 71.83, a falling trend-line since August 13 at 71.91 and another one ranging from August 02 around 72.44 are extra upside barriers that the quote needs to conquer in order to justify its strength.

In a case where prices rally beyond 72.44, 50% Fibonacci retracement of July-August downpour, also including August 02 top, can question AUD/JPY buyers around 73.15/20.

Meanwhile, pair’s break of 71.46/45 support-zone comprising immediate rising trend-line and 23.6% Fibonacci retracement can please sellers with August 07 low surrounding 70.70 ahead of pushing them to 70.00/69.95 area including the monthly bottom.

AUD/JPY daily chart

Trend: pullback expected

Additional important levels

Overview
Today last price	1.0662
Today Daily Change	35 pips
Today Daily Change %	0.33%
Today daily open	1.0627

Trends
Daily SMA20	1.051
Daily SMA50	1.048
Daily SMA100	1.0533
Daily SMA200	1.051

Levels
Previous Daily High	1.0657
Previous Daily Low	1.0602
Previous Weekly High	1.062
Previous Weekly Low	1.0526
Previous Monthly High	1.0554
Previous Monthly Low	1.0383
Daily Fibonacci 38.2%	1.0636
Daily Fibonacci 61.8%	1.0623
Daily Pivot Point S1	1.0601
Daily Pivot Point S2	1.0574
Daily Pivot Point S3	1.0546
Daily Pivot Point R1	1.0655
Daily Pivot Point R2	1.0683
Daily Pivot Point R3	1.071

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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