AUD/JPY Technical Analysis: lacks direction after Doji

The AUD/JPY cross is trading in a sideways manner for the second day, having charted a doji candle on Friday, which represents indecision in the marketplace.

Daily chart

Friday's doji indicates that the recovery rally from the Jan. 4 low of 75.24 has likely run out of steam. A convincing close below 78.39 (low of doji candle) would confirm a bear reversal. Meanwhile, 79.10 (high of doji candle) is the level to beat for the bulls.

With the 14-day relative strength index (RSI) still biased bearish, the probability of a break below 78.39 is high. After all, the prospects of breakthrough US-China trade deal is quite low.

Hourly chart

The pair is struggling to gather upside traction despite the ascending triangle breakout on the hourly chart. That only validates the bullish exhaustion signaled by Friday's doji candle.

Trend: teasing bear reversal

AUD/JPY

Overview:
    Today Last Price: 78.45
    Today Daily change: -0.07 pips
    Today Daily change %: -0.09%
    Today Daily Open: 78.52
Trends:
    Daily SMA20: 77.72
    Daily SMA50: 80.07
    Daily SMA100: 80.36
    Daily SMA200: 81.31
Levels:
    Previous Daily High: 78.72
    Previous Daily Low: 78.28
    Previous Weekly High: 79.11
    Previous Weekly Low: 77.56
    Previous Monthly High: 84.05
    Previous Monthly Low: 77.15
    Daily Fibonacci 38.2%: 78.45
    Daily Fibonacci 61.8%: 78.55
    Daily Pivot Point S1: 78.3
    Daily Pivot Point S2: 78.07
    Daily Pivot Point S3: 77.85
    Daily Pivot Point R1: 78.74
    Daily Pivot Point R2: 78.95
    Daily Pivot Point R3: 79.18

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