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AUD/JPY Technical Analysis: 4H RSI teasing bull divergence

  • The AUD/JPY pair printed a 39-day low of 80.72 earlier today, having closed below the 50-day moving average (MA) on Friday.
  • The lower low on the price chart, however, is not confirmed by the relative strength index (RSI) on the 4-hour chart, meaning a bullish divergence (lower low in price, higher low on RSI) is being charted.
  • As a result, the JPY cross could revisit the descending 50-hour moving average (MA), currently at 81.35. A sustained break above that level could remain elusive as the S&P 500 futures are currently reporting a 0.66 percent drop.

4-hour chart

Trend: Minor bounce likely

AUD/JPY

Overview:
    Today Last Price: 81.08
    Today Daily change: -9.0 pips
    Today Daily change %: -0.111%
    Today Daily Open: 81.17
Trends:
    Previous Daily SMA20: 82.26
    Previous Daily SMA50: 81.24
    Previous Daily SMA100: 81.24
    Previous Daily SMA200: 81.89
Levels:
    Previous Daily High: 81.69
    Previous Daily Low: 81.1
    Previous Weekly High: 84.05
    Previous Weekly Low: 80.93
    Previous Monthly High: 83.22
    Previous Monthly Low: 79.84
    Previous Daily Fibonacci 38.2%: 81.33
    Previous Daily Fibonacci 61.8%: 81.46
    Previous Daily Pivot Point S1: 80.95
    Previous Daily Pivot Point S2: 80.73
    Previous Daily Pivot Point S3: 80.36
    Previous Daily Pivot Point R1: 81.54
    Previous Daily Pivot Point R2: 81.91
    Previous Daily Pivot Point R3: 82.13

 

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