AUD/JPY Technical Analysis: Line chart is reporting a classic rising wedge breakdown

The rising wedge breakdown seen in AUD/JPY's daily line chart indicates the sell-off from the November highs above 83.00 has resumed and the key support near 77.80 could soon come into play. The bearish outlook would be invalidated above today's high of 79.66.

Omkar Godbole FXStreet Contributor

Daily chart

Trend: bearish

1. R3 80.66
2. R2 80.26
3. R1 79.9
PP 79.5
1. S1 79.14
2. S2 78.74
3. S3 78.38

AUD/JPY

Overview:
    Today Last Price: 78.66
    Today Daily change: -0.89 pips
    Today Daily change %: -1.12%
    Today Daily Open: 79.55
Trends:
    Daily SMA20: 78.48
    Daily SMA50: 79.32
    Daily SMA100: 80.22
    Daily SMA200: 81.09
Levels:
    Previous Daily High: 79.85
    Previous Daily Low: 79.09
    Previous Weekly High: 79.61
    Previous Weekly Low: 77.96
    Previous Monthly High: 79.4
    Previous Monthly Low: 70.71
    Daily Fibonacci 38.2%: 79.56
    Daily Fibonacci 61.8%: 79.38
    Daily Pivot Point S1: 79.14
    Daily Pivot Point S2: 78.74
    Daily Pivot Point S3: 78.38
    Daily Pivot Point R1: 79.9
    Daily Pivot Point R2: 80.26
    Daily Pivot Point R3: 80.66

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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