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AUD/JPY Technical Analysis: pullback to 73.00 could be on the cards

The JPY crosses have come under pressure despite the uptick in the S&P 500 futures.

Notably, the AUD/JPY pair could be in for a 50 pip drop from the current level of 77.50, courtesy of the weaker-than-expected Aussie trade surplus data and the bearish divergence of the relative strength index (RSI).

Hourly chart

  • As seen above, the 14-hour RSI has diverged in favor of the bears and is showing a double top breakdown - a bearish pattern.  Further, the MACD has crossed over into the negative territory.

Trend: Bearish

AUD/JPY

Overview:
    Today Last Price: 77.51
    Today Daily change: -16 pips
    Today Daily change %: -0.206%
    Today Daily Open: 77.67
Trends:
    Previous Daily SMA20: 78.85
    Previous Daily SMA50: 80.76
    Previous Daily SMA100: 80.65
    Previous Daily SMA200: 81.54
Levels:
    Previous Daily High: 77.73
    Previous Daily Low: 77.02
    Previous Weekly High: 78.08
    Previous Weekly Low: 70.71
    Previous Monthly High: 84.05
    Previous Monthly Low: 77.15
    Previous Daily Fibonacci 38.2%: 77.46
    Previous Daily Fibonacci 61.8%: 77.29
    Previous Daily Pivot Point S1: 77.21
    Previous Daily Pivot Point S2: 76.76
    Previous Daily Pivot Point S3: 76.5
    Previous Daily Pivot Point R1: 77.92
    Previous Daily Pivot Point R2: 78.18
    Previous Daily Pivot Point R3: 78.63

 

 

 

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