AUD/JPY Technical Analysis: Break of immediate resistance favor further upside towards 78.55/60

  • AUD/USD is on bids around 78.50 during early Tuesday.
  • The pair broke a weeklong descending trend-line stretched since March 21 and is currently heading towards 78.55/60 resistance area comprising lows of March 14 and 21.
  • Should buyers manage to hold the strength after 78.60, 61.8% Fibonacci retracement of the downturn from March 18 to 25 can challenge further upside at 78.70.
  • In a case where prices rally beyond 78.70, there are multiple resistances near 79.00 round-figure to conquer for the bulls ahead of aiming to revisit the current month high surrounding 79.40.
  • Meanwhile, 78.30 and 78.00 could entertain sellers during the pair’s pullback.
  • Given the quote slips beneath 78.00, 77.80 and recent lows around 77.50 can flash on their radar ahead of highlighting 77.00 for bears.

AUD/JPY hourly chart

 

Additional important levels

Overview
Today last price 78.44
Today Daily Change 23 pips
Today Daily Change % 0.29
Today daily open 78.21
 
Trends
Daily SMA20 78.83
Daily SMA50 78.71
Daily SMA100 79.58
Daily SMA200 80.39
 
Levels
Previous Daily High 78.35
Previous Daily Low 77.54
Previous Weekly High 79.42
Previous Weekly Low 77.78
Previous Monthly High 79.85
Previous Monthly Low 77.44
Daily Fibonacci 38.2% 78.04
Daily Fibonacci 61.8% 77.85
Daily Pivot Point S1 77.72
Daily Pivot Point S2 77.22
Daily Pivot Point S3 76.91
Daily Pivot Point R1 78.53
Daily Pivot Point R2 78.84
Daily Pivot Point R3 79.34

 

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