AUD/JPY technical analysis: Symmetrical triangle limits immediate moves

Short-term symmetrical triangle limits trading within 76.20 and 75.70.
Another downward sloping trend-line acts as additional upside resistance.

Anil Panchal FXStreet

With its latest pullback from 76.15, AUD/JPY portrays a short-term symmetrical triangle formation on the hourly chart during early Wednesday.

As a result, the quote may now revisit 75.90 immediate support ahead of highlighting pattern’s lower-line at 75.70.

Should there be increased selling pressure beneath 75.70, 75.50, 75.30 and 75.00 are likely consecutive rests that bears may target.

Meanwhile, pair’s break of 76.20 resistance can trigger its recovery to another descending trend-line stretched since May 08, at 76.55, a break of which may question 61.8% Fibonacci retracement level of current month decline, at 76.60.

If prices rally past-76.60, 77.00, 77.25 and 77.40 should be the next landmarks for buyers to watch.

AUD/JPY hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	76.04
Today Daily Change	-1 pip
Today Daily Change %	-0.01%
Today daily open	76.05

Trends
Daily SMA20	77.19
Daily SMA50	78.42
Daily SMA100	78.44
Daily SMA200	79.62

Levels
Previous Daily High	76.29
Previous Daily Low	75.62
Previous Weekly High	76.91
Previous Weekly Low	75.33
Previous Monthly High	80.75
Previous Monthly Low	78.11
Daily Fibonacci 38.2%	76.03
Daily Fibonacci 61.8%	75.88
Daily Pivot Point S1	75.68
Daily Pivot Point S2	75.32
Daily Pivot Point S3	75.01
Daily Pivot Point R1	76.35
Daily Pivot Point R2	76.66
Daily Pivot Point R3	77.02

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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