AUD/JPY technical analysis: Buyers respect 4H 200MA, aim for 12-day long resistance-line


  • Repeated bounces off 4H 200MA, gradually rising RSI favor the AUD/JPY pair’s further upside towards short-term resistance-line.
  • A break of key MA can quickly flash 61.8% Fibonacci retracement on the chart.

With its sustained trading beyond 200-bar moving average on the 4-hour chart (4H 200MA), backed by momentum indicator, the AUD/JPY pair takes the rounds to 75.66 during the early Asian session on Friday.

A 12-day long descending trend-line at 75.76 acts as an immediate resistance to the pair ahead of highlighting 75.91/93 area comprising multiple tops since early-month.

In a case prices rally past-75.93, 76.00 and June-end high near 76.30 can please the bulls.

Meanwhile, a downside break of 4H 200MA level of 75.26 can quickly drag prices to 61.8% Fibonacci retracement of late-June advances, at 74.82.

Should there be additional declines beneath 74.82, June 20 bottoms surrounding 74.15 can gain sellers’ attention.

Further to note, 14-bar relative strength index (RSI), a momentum indicator, runs positive and away from the overbought region to favor further upside of the pair.

AUD/JPY 4-hour chart

Trend: Bullish

    1. R3 75.95
    2. R2 75.79
    3. R1 75.61
  1. PP 75.45
    1. S1 75.28
    2. S2 75.12
    3. S3 74.95

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD breaks above 1.1100, first time since end-March

EUR/USD is breaking higher heading into European trading this Friday. The spot conquers the 1.11 handle for the first time since March 30 despite the risk-off market mood amid US-China tensions. Focus on EZ CPI and Trump's response. 

EUR/USD News

GBP/USD: Mildly bid above 1.2300 as UK enters Sino-American rivalry

GBP/USD probes intraday high after bouncing off lows near 1.2300. UK increases changes for China’s Huawei, offers citizenship to Hong Kong residents. EU’s Trade Chief says UK may have given up on Brexit deal. US President Trump’s presser will be key.

GBP/USD News

Cardano explodes over 1% in minutes, is $0.07 achievable on Friday?

Cardano is among the most active cryptocurrencies in the market this week. ADA/USD is exchanging hands at $0.0666 amid a battle to beat Thursday highs at $0.0680. On the other hand, the price has not been left behind especially after spiking by over 1% in a matter of minutes.

Read more

Gold pokes $1,721/23 resistance area

Gold prices extend the latest recovery from $1,711 as DXY refreshes two-month low. A confluence of 10-day EMA, nine-day-old falling trend line probes immediate upside. An ascending trend line from April 21 favors the bulls.

Gold News

WTI eyes record monthly surge

While West Texas Intermediate (WTI) crude's front-month contract has backed off from the 2.5-month highs reached earlier this week due to deteriorating US-China tensions, it is still on track to post its biggest monthly gain on record. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures