AUD/JPY technical analysis: Struggles around 200-bar SMA

AUD/JPY fails to stay strong beyond near-term key moving average.
The five-week-old rising trend line is on sellers’ radar.
Buyers will look for entry beyond a one-week-old falling resistance line.

Anil Panchal FXStreet

Following its failure to stay strong above 200-bar SMA, AUD/JPY revisits the key moving average while taking rounds to 73.95 during the initial Asian session on Tuesday.

With this, an upward sloping trend line since mid-October, around 73.40/35, gains market attention whereas 61.8% Fibonacci retracement of October-November upside, at 73.24, could challenge sellers afterward.

If bears manage to conquer 73.24, 73.00 and 72.80 can provide intermediate halts during the downpour to early-October high surrounding 72.55.

Meanwhile, an upside clearance of the immediate falling trendline, at 74.28 now, can again divert traders’ attention off 200-bar Simple Moving Average (SMA), while highlighting November 07 low near 74.55.

In a case where prices manage to cross 74.55, 75.00, 75.30 and the monthly top close to 75.70 will lure buyers.

AUD/JPY 4-hour chart

Trend: Pullback expected

additional important levels

Overview
Today last price	73.96
Today Daily Change	-21 pips
Today Daily Change %	-0.28%
Today daily open	74.17

Trends
Daily SMA20	74.6
Daily SMA50	73.77
Daily SMA100	73.69
Daily SMA200	75.66

Levels
Previous Daily High	74.19
Previous Daily Low	73.5
Previous Weekly High	74.96
Previous Weekly Low	73.35
Previous Monthly High	75.3
Previous Monthly Low	71.73
Daily Fibonacci 38.2%	73.93
Daily Fibonacci 61.8%	73.76
Daily Pivot Point S1	73.72
Daily Pivot Point S2	73.26
Daily Pivot Point S3	73.03
Daily Pivot Point R1	74.41
Daily Pivot Point R2	74.64
Daily Pivot Point R3	75.1

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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