AUD/JPY Technical Levels: Hurdle at 83.04 may hold on bearish RSI divergence

AUD/JPY may have a tough time scaling resistance at 83.04 - 61.8 percent Fibonacci hurdle of 84.54-80.63, courtesy of the bearish divergence of the hourly relative strength index (RSI).
But, 14-day RSI has turned bullish (above 50.00), so dips will likely be short-lived.

Omkar Godbole FXStreet Contributor

Hourly chart

Spot Rate: 83.00

Daily High: 83.05

Daily Low: 82.68

Trend: Mildly bearish

Resistance

R1: 83.04 (61.8 percent Fibonacci retracement)

R2: 84.16 (June 12 high)

R3: 84.54 (June 7 high)

Support

S1: 82.68 (session low)

S2: 82.53 (100-day moving average)

S3: 82.20 (5-day moving average)

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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