AUD/JPY technical analysis: Better bid, but breakout still elusive

  • AUD/JPY is flashing green on US-China trade optimism. 
  • A close above 72.73 is needed to confirm a bullish breakout. 

AUD/JPY is currently trading at 72.56, representing 0.40% gains on the day.

The currency pair picked up a bid near 72.00 after the news of a potential US-China currency pact hit the wires via Bloomberg, boosting demand for the risky assets like the AUD.

Even so, the pair failed to find acceptance above resistance at 72.73 – the upper edge of a falling channel represented by trendlines connecting Sept. 13 and Oct. 1 highs and Sept. 20 and Oct. 2 lows.

A close above 72.73 would confirm a bullish breakout and imply a resumption of the rally from the August lows below 70.00 and open the doors for a retest of recent highs near 74.50.

The outlook would turn bearish if the pair drops below Oct. 2's low of 71.73.

Daily chart

Trend: Bullish above 72.73

Technical levels


Today last price 72.56
Today Daily Change 0.29
Today Daily Change % 0.40
Today daily open 72.27
Daily SMA20 72.97
Daily SMA50 72.47
Daily SMA100 73.92
Daily SMA200 76.18
Previous Daily High 72.49
Previous Daily Low 71.92
Previous Weekly High 73.38
Previous Weekly Low 71.73
Previous Monthly High 74.5
Previous Monthly Low 71.1
Daily Fibonacci 38.2% 72.27
Daily Fibonacci 61.8% 72.14
Daily Pivot Point S1 71.97
Daily Pivot Point S2 71.66
Daily Pivot Point S3 71.4
Daily Pivot Point R1 72.54
Daily Pivot Point R2 72.8
Daily Pivot Point R3 73.11



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