AUD/JPY Technical Analysis: Below 200-bar SMA inside short-term rising channel


  • AUD/JPY drops from three weeks’ high.
  • An eight-day-old rising trend channel keeps buyers hopeful.
  • 50% Fibonacci retracement, channel’s upper line adds to the resistance beyond 200-bar SMA.

AUD/JPY takes a U-turn from immediate rising channel and declines below 200-bar Simple Moving Average (SMA) as the quote flashes 74.30 mark during the early Asian session on Tuesday.

Prices are likely extending the pullback towards the eight-day-old channel’s support, at 74.00, a break of which could please sellers with November 21 low near 73.50 and mid-November bottom close to 73.35.

Meanwhile, pair’s run-up beyond 200-bar SMA, at 74.37 now, will confront 50% Fibonacci retracement level of November month fall, at 74.52, followed by the channel’s resistance line, at 74.55.

Given the bull’s dominance beyond 74.55, highs marked during November 10 and 12 around 74.95/75.00 will be in focus.

AUD/JPY 4-hour chart

Trend: Pullback expected

additional important levels

Overview
Today last price 74.31
Today Daily Change 0.27
Today Daily Change % 0.36%
Today daily open 74.04
 
Trends
Daily SMA20 74.32
Daily SMA50 73.79
Daily SMA100 73.52
Daily SMA200 75.42
 
Levels
Previous Daily High 74.28
Previous Daily Low 73.92
Previous Weekly High 74.3
Previous Weekly Low 73.7
Previous Monthly High 75.68
Previous Monthly Low 73.35
Daily Fibonacci 38.2% 74.06
Daily Fibonacci 61.8% 74.14
Daily Pivot Point S1 73.88
Daily Pivot Point S2 73.72
Daily Pivot Point S3 73.52
Daily Pivot Point R1 74.24
Daily Pivot Point R2 74.44
Daily Pivot Point R3 74.6

 

 

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