AUD/JPY Technical Analysis: looking for more after claiming 80.50

The AUD/JPY is bouncing off of the 80.00 major handle after marking in a 30-month low at 79.70.
Risk appetite is cautiously improving for Friday's action as US-China negotiations on trade are set to resume again after months of deadlock.
The Aussie is down nearly 10% against the Japenese Yen for 2018.

Joshua Gibson FXStreet

AUD/JPY Chart, 1-Hour

Spot rate:	80.56
Relative change:	0.11%
High:	80.71
Low:	80.35

Trend:	Bearish

Support 1:	80.35 (current day low)
Support 2:	79.69 (current week low; major technical bottom)
Support 3:	79.00 (major technical level)

Resistance 1:	80.82 (current week low)
Resistance 2:	81.60 (61.8% Fibo retracement level)
Resistance 3:	82.79 (previous week low)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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