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.

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

 

 

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