- AUD/JPY keeps the early week’s corrective pullback from key support line.
- Confluence of 200-SMA, one-week-old resistance line guards immediate upside.
- Mid-February low add to the downside filters, three-week-old horizontal area offers extra resistance.
AUD/JPY picks up bids to 82.80 during the initial Asian session trading on Friday. In doing so, the quote keeps the bounce off an ascending trend line from February 17.
As MACD takes a turn in favor of the bulls during the corrective pullback, AUD/JPY is likely to extend the latest rise towards the key hurdle comprising 200-SMA and a descending resistance line from March 18, around 83.20.
However, a clear break above 83.20 will enable the AUD/JPY bulls to battle another crucial hurdle to the north, comprising multiple levels marked since March 04 near 84.00-84.10.
Meanwhile, a downside break below the stated support line, at 82.53 now, will need to refresh the monthly low under 82.28 to convince AUD/JPY sellers.
Also acting as the near-term important support is the February 17 low of 81.93, a break of which will direct AUD/JPY bears towards the 81.00 threshold.
AUD/JPY four-hour chart
Trend: Further recovery expected
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD: Momentum favours further gains
In line with the broad recovery in the risk-linked complex, AUD/USD left behind a two-day negative streak and resumed its uptrend towards the 0.6400 region, always on the back of the resurgence of quite a strong downside pressure hitting the US Dollar on Thursday.
EUR/USD: Extra advances appear in the pipeline
EUR/USD followed the widespread improved sentiment in the risk-linked galaxy and managed to set aside two daily drops in a row and refocus on the upper end of its recent range around the 1.1400 zone on Thursday.
Gold price climbs past $3,300 on uncertainty about trade and weak USD
Gold snaps two-day losing streak, gaining 1.5% on fresh trade war fears. Trump softens tariff talk, but China denies negotiations and demands full rollback. Fed rate cut bets rise as yields drop and economic uncertainty builds.
Ondo Finance hits $3B market cap as CEO Nathan Allman meets SEC to discuss tokenized US securities
Ondo Finance met with officials of the SEC and the law firm Davis Polk to discuss the regulation of tokenized US securities. Topics included registration requirements, broker-dealer rules and proposed compliant models for tokenized securities issuance.
Five fundamentals for the week: Traders confront the trade war, important surveys, key Fed speech Premium
Will the US strike a trade deal with Japan? That would be positive progress. However, recent developments are not that positive, and there's only one certainty: headlines will dominate markets. Fresh US economic data is also of interest.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.