AUD/JPY Technical Analysis: Sellers struggle with 7-week old supportline to aim for 77.10

AUD/JPY trades near 77.80 during early Monday.
The quote presently struggles with the seven-week-old ascending supportline ranging from February 08 and requires a dip beneath recent low of 77.70 in order to validate the downside targeting January 10 bottom near 77.10.
However, February month low around 77.50 can offer intermediate halt whereas 77.00 mark could please sellers past-77.10.
Additionally, 76.00 and 75.30 are likely following numbers to appear on the chart if sellers keep dominating trade sentiment under 77.10.
It should also be noted that the 14-bar relative strength index (RSI) is in the negative territory and signals pullback.
Alternatively, 78.40 can limit immediate upside ahead of highlighting 200-bar simple moving average (SMA) at 78.85.
During the pair’s additional rise past-78.85, 79.00 and a downward sloping trendline stretched since February 21, at 79.30, become important to watch.
Moreover, the pair’s sustained break of 79.30 enables it to target 79.60 and 80.00 during further upside.

Anil Panchal FXStreet

AUD/JPY 4-Hour chart

Additional important levels

Overview
Today last price	77.87
Today Daily Change	3 pips
Today Daily Change %	0.04
Today daily open	77.84

Trends
Daily SMA20	78.9
Daily SMA50	78.71
Daily SMA100	79.62
Daily SMA200	80.41

Levels
Previous Daily High	78.9
Previous Daily Low	77.78
Previous Weekly High	79.42
Previous Weekly Low	77.78
Previous Monthly High	79.85
Previous Monthly Low	77.44
Daily Fibonacci 38.2%	78.21
Daily Fibonacci 61.8%	78.47
Daily Pivot Point S1	77.45
Daily Pivot Point S2	77.05
Daily Pivot Point S3	76.33
Daily Pivot Point R1	78.57
Daily Pivot Point R2	79.29
Daily Pivot Point R3	79.69

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.

EUR/USD recedes to daily lows near 1.1850

EUR/USD keeps its bearish momentum well in place, slipping back to the area of 1.1850 to hit daily lows on Monday. The pair’s continuation of the leg lower comes amid decent gains in the US Dollar in a context of scarce volatility and thin trade conditions due to the inactivity in the US markets.

GBP/USD resumes the downtrend, back to the low-1.3600s

GBP/USD rapidly leaves behind Friday’s decent advance, refocusing on the downside and retreating to the 1.3630 region at the beginning of the week. In the meantime, the British Pound is expected to remain under the microscope ahead of the release of the key UK labour market report on Tuesday.

Gold looks inconclusive around $5,000

Gold partially fades Friday’s strong recovery, orbiting around the key $5,000 region per troy ounce in a context of humble gains in the Greenback on Monday. Additing to the vacillating mood, trade conditions remain thin amid the observance of the Presidents Day holiday in the US.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.