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.

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