AUD/JPY technical analysis: Multiple resistance-lines to limit latest recovery


  • Near-term trend-line resistances question recent pullback.
  • The limited gap on the downside before meeting the year 2016 and early January lows.

Even if AUD/JPY’s recent short-covering moves from 74.77 presently propels it towards 75.00, near-term descending trend-lines are on the spotlight during early Friday.

Not only a downward sloping resistance-line from late-Tuesday but resistance-line connecting highs since early-week is also likely to challenge the pair’s latest recovery around 75.04 and 75.18 respectively.

Given the prices manage to clear 75.18 resistance, 200-hour moving average (HMA) near 75.46 and current week top near 75.68/70 can please the buyers.

It should also be noted that 74.77 holds the immediate downside confined, a break of which highlights July 2016 low near 74.55 and the year 2016 bottom close to 72.45.

Additionally, pair’s extended south-run below 72.45 can shift market focus to January month flash crash low around 70.90.

AUD/JPY hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price 74.95
Today Daily Change -23 pips
Today Daily Change % -0.31%
Today daily open 75.18
 
Trends
Daily SMA20 75.65
Daily SMA50 77.42
Daily SMA100 78.09
Daily SMA200 79.21
Levels
Previous Daily High 75.62
Previous Daily Low 75.14
Previous Weekly High 75.91
Previous Weekly Low 74.96
Previous Monthly High 78.72
Previous Monthly Low 75.08
Daily Fibonacci 38.2% 75.32
Daily Fibonacci 61.8% 75.44
Daily Pivot Point S1 75.01
Daily Pivot Point S2 74.83
Daily Pivot Point S3 74.53
Daily Pivot Point R1 75.49
Daily Pivot Point R2 75.79
Daily Pivot Point R3 75.97

 

 

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