AUD/JPY technical analysis: Pulls back from 50-day EMA after RBA’s rate cut

AUD/JPY fails to break 50-day EMA, four-week-old support-line in the spotlight for now.
RBA matched market expectations of a 0.25% rate cut.

Anil Panchal FXStreet

Following initial spikes to 50-day exponential moving average (EMA), AUD/JPY aims to revisit short-term support-line while taking rounds to 72.85 during early-Tuesday.

The Reserve Bank of Australia (RBA) matched market-wide expectations while announcing a 0.25% Cash Rate cut. However, RBA statement offered details of decision and conveys a dovish bias.

Read: RBA: Reasonable to expect extended period of low rates

With the bearish signal from 12-day moving average convergence and divergence (MACD) grabbing sellers’ attention, a downside break of near-term rising trendline support, at 72.75, can extend declines to 38.2% Fibonacci retracement of July-August downpour, at 72.37.

On the upside, pair’s successful break of 50-day EMA level, at 73.30 now, could push buyers to confront 61.8% Fibonacci retracement level surrounding 73.90. However, September month high near to 74.50 could restrict the pair’s further upside.

AUD/JPY daily chart

Trend: pullback expected

additional important levels

Overview
Today last price	72.9
Today Daily Change	-6 pips
Today Daily Change %	-0.08%
Today daily open	72.96

Trends
Daily SMA20	73.28
Daily SMA50	72.89
Daily SMA100	74.18
Daily SMA200	76.37

Levels
Previous Daily High	73.11
Previous Daily Low	72.7
Previous Weekly High	73.33
Previous Weekly Low	72.48
Previous Monthly High	74.5
Previous Monthly Low	71.1
Daily Fibonacci 38.2%	72.86
Daily Fibonacci 61.8%	72.95
Daily Pivot Point S1	72.74
Daily Pivot Point S2	72.51
Daily Pivot Point S3	72.32
Daily Pivot Point R1	73.15
Daily Pivot Point R2	73.34
Daily Pivot Point R3	73.56

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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