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AUD/JPY Technical Analysis: psychological support of 79.00 may hold ground for some time

The AUD/JPY pair has lost 500 pips in the last 18 days and could extend the decline if the stocks remain risk-averse. The short-term technical indicators, however, are signaling that a minor bounce could be in the offing before the psychological support of 79.00 is breached.

Hourly chart

  • The hourly chart shows a bullish divergence of the relative strength index (RSI).

4-hour chart

  • The doji candle seen in the above chart indicates bearish exhaustion. Further, the RSI is reporting oversold conditions. That validates the bullish RSI divergence seen in the hourly chart. Hence, the pair may revisit 79.40 in the next few hours. A daily close above the 10-day MA would abort the bearish view.  

Trend: bullish

AUD/JPY

Overview:
    Today Last Price: 79.22
    Today Daily change: 7.0 pips
    Today Daily change %: 0.0884%
    Today Daily Open: 79.15
Trends:
    Previous Daily SMA20: 81.78
    Previous Daily SMA50: 81.31
    Previous Daily SMA100: 81.11
    Previous Daily SMA200: 81.79
Levels:
    Previous Daily High: 80.21
    Previous Daily Low: 78.83
    Previous Weekly High: 82.21
    Previous Weekly Low: 80.73
    Previous Monthly High: 83.22
    Previous Monthly Low: 79.84
    Previous Daily Fibonacci 38.2%: 79.36
    Previous Daily Fibonacci 61.8%: 79.68
    Previous Daily Pivot Point S1: 78.58
    Previous Daily Pivot Point S2: 78.02
    Previous Daily Pivot Point S3: 77.2
    Previous Daily Pivot Point R1: 79.97
    Previous Daily Pivot Point R2: 80.78
    Previous Daily Pivot Point R3: 81.35

 

 

 

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