AUD/JPY technical analysis: 50% Fibo. guards near-term upside

Frequent failure to cross 50% Fibonacci retracement portrays the AUD/JPY pair’s weakness.
200-HMA, 7-day old trend-line act as nearby supports.

Anil Panchal FXStreet

Despite a week-long ascending trend-line portraying the AUD/JPY pair’s gradual recovery, 50% Fibonacci retracement level continues to act as a near-term strong resistance considering the quote’s latest decline to 74.60 during early Tuesday.

While 200-hour moving average (200-HMA) level of 74.56 seems adjacent support, pair’s further declines will be capped by 23.6% Fibonacci retracement and aforementioned trend-line around 74.35/30.

If sellers manage to drag the pair below 74.30, 74.00 and latest low surrounding 73.92 could flash on their radars.

On the flip side, the successful break of 50% Fibonacci retracement of 74.80 can trigger the pair’s move up towards 61.8% Fibonacci retracement level near 75.00.

Additionally, pair’s sustained rise above 75.00 enables buyers to aim for 75.40 and recent tops near 75.70.

AUD/JPY hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price	74.6
Today Daily Change	-10 pips
Today Daily Change %	-0.13%
Today daily open	74.7

Trends
Daily SMA20	75.14
Daily SMA50	76.6
Daily SMA100	77.76
Daily SMA200	79

Levels
Previous Daily High	74.8
Previous Daily Low	74.35
Previous Weekly High	74.79
Previous Weekly Low	73.92
Previous Monthly High	78.72
Previous Monthly Low	75.08
Daily Fibonacci 38.2%	74.63
Daily Fibonacci 61.8%	74.52
Daily Pivot Point S1	74.43
Daily Pivot Point S2	74.17
Daily Pivot Point S3	73.98
Daily Pivot Point R1	74.88
Daily Pivot Point R2	75.07
Daily Pivot Point R3	75.33

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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