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Jan 8, 2019
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
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- 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