AUD/JPY Price Analysis: Sellers looking for entry below 76.35/30 support confluence

AUD/JPY consolidates Friday’s rally below 76.52 but stays above 200-bar SMA, a three-week-old support line.
Bullish MACD, another support line stretched from August 31 also challenge the sellers.

Anil Panchal FXStreet

AUD/JPY eases to 76.42, after stepping back from Friday’s top near 76.50/55, amid the early Asian morning on Monday. Even so, the pair remains well above the joint of 200-bar SMA and an ascending trend line from September 22, previous resistance, amid bullish MACD.

Hence, the sellers are less likely to enter unless AUD/JPY prices slip below the mentioned support of 76.35/30.

Following that, the quote will quickly break the 50% Fibonacci retracement of August 31 to September 24 downside, at 76.22, while targeting the 76.00 round-figure.

However, a downward sloping trend line from August-end, currently around 75.82, will challenge the AUD/JPY bears afterward, if not then the 75.00 round-figure and the monthly low of 74.93 will be in the spotlight.

Meanwhile, a clear run-up beyond Friday’s peak of 76.52 will propel the pair towards a 61.8% Fibonacci retracement level of 76.76 before challenging the September 18 top near 76.85.

If the bulls keep the throne after 76.85, the mid-September peak surrounding 77.50 will become their favorite.

AUD/JPY four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price	76.43
Today Daily Change	-0.03
Today Daily Change %	-0.04%
Today daily open	76.46

Trends
Daily SMA20	75.66
Daily SMA50	76.26
Daily SMA100	75.3
Daily SMA200	72.87

Levels
Previous Daily High	76.52
Previous Daily Low	75.93
Previous Weekly High	76.52
Previous Weekly Low	74.96
Previous Monthly High	78.36
Previous Monthly Low	73.97
Daily Fibonacci 38.2%	76.3
Daily Fibonacci 61.8%	76.16
Daily Pivot Point S1	76.09
Daily Pivot Point S2	75.71
Daily Pivot Point S3	75.49
Daily Pivot Point R1	76.68
Daily Pivot Point R2	76.9
Daily Pivot Point R3	77.27

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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