AUD/JPY technical analysis: Immediate resistance-line can question latest rise at 76.40


  • RSI inching up from oversold region but near-term trend-line could confine the rise.
  • Multiple resistances stand tall to question buyers.

AUD/JPY is on the bids near 76.00 during the initial Asian session on Monday. The pair recently surged after Japanese Yen (JPY) reacted more to the previous downward revision than to upbeat present readings of Japan’s Q1 2019 GDP. Adding to the sentiment is the overall strength of the Australian Dollar (AUD) on election results from Australia.

Even if recovery of 14-day relative strength index (RSI) signal further upside by the pair, a downward sloping trend-line since mid-April could question immediate rise around 76.40.

Should prices rally beyond 76.40, the 76.45/55 area comprising multiple lows/highs marked since early January could challenge buyers ahead of highlighting 50-day and 100-day simple moving average (SMA) confluence near 78.45/50.

Alternatively, 50% Fibonacci retracement of January to April upside, at 75.70 acts as nearby support, a break of which can shift bears’ attention to a recent low of 75.33 and then to January 04 bottom surrounding 75.23.

In a case of extended downturn past-75.23, 61.8% Fibonacci retracement level of 74.54 could become sellers’ favorite.

AUD/JPY daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 76.06
Today Daily Change 0.46 pips
Today Daily Change % 0.61%
Today daily open 75.6
 
Trends
Daily SMA20 77.55
Daily SMA50 78.53
Daily SMA100 78.47
Daily SMA200 79.67
Levels
Previous Daily High 75.85
Previous Daily Low 75.33
Previous Weekly High 76.91
Previous Weekly Low 75.33
Previous Monthly High 80.75
Previous Monthly Low 78.11
Daily Fibonacci 38.2% 75.53
Daily Fibonacci 61.8% 75.65
Daily Pivot Point S1 75.34
Daily Pivot Point S2 75.07
Daily Pivot Point S3 74.82
Daily Pivot Point R1 75.86
Daily Pivot Point R2 76.11
Daily Pivot Point R3 76.38

 

 

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