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

Latest Forex News

Editors’ Picks

EUR/USD drops below 1.11 amid upbeat US data, trade concerns

EUR/USD is trading below 1.11 after robust US housing figures and solid consumer sentiment figures were published. Earlier, the common currency suffered from the concerns of new US tariffs on the EU.

EUR/USD News

GBP/USD down 100 pips after UK retail sales badly disappoint, amid USD strength

GBP/USD has plunged below 1.3050 after UK retail sales badly disappointed with a fall of 0.6% in December, on top of downward revisions. Odds of a BOE cut have risen.

GBP/USD News

Crypto market hyperspace mode On

The secondary actors of the crypto-sphere awaken and rally hard. Leading coins battle with greater resistance at the gates of a full bullish market. The only risk is an over-shoot, but that sentiment remains neutral.

Read more

Gold looks to close week flat below $1560

The XAU/USD pair climbed to a fresh daily high of $1560 in the early trading hours of the American session but struggled to preserve its momentum.

Gold News

USD/JPY: Losing bullish momentum but retaining gains

Chinese encouraging data kept markets in risk-on mode at the beginning of the day. The US January Michigan Consumer Sentiment Index is seen at 99.3, matching December figure. USD/JPY holding at the upper end of its weekly range could correct lower.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures