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.

Anil Panchal FXStreet

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

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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