AUD/JPY picks up bids from intraday low during second consecutive daily drop. 100 and 200-SMAs join 50% Fibonacci retracement of late March drop to test sellers. Key Fibonacci Retracement, one-month-old horizontal resistance challenge recovery moves. AUD/JPY takes a U-turn from 83.75 while trimming the intraday losses to 0.30%, around 83.91 by the press time of early Monday. Following its pullback moves last Thursday, the quote remains pressured. However, a confluence of 50% Fibonacci retracement, 100-SMA and 200-SMA, near 83.85, recently triggered the pair’s bounce. Even so, downbeat RSI conditions keep challenging the recovery moves before a 61.8% Fibonacci retracement level of 84.23. It should also be noted that a clear break above the key Fibonacci retracement level will be challenged by the 84.50 horizontal resistance line established on March 19. Meanwhile, 83.50 and 23.6% Fibonacci retracement level around the 83.000 threshold can lure the AUD/JPY sellers during the fresh declines. However, any further weakness may target March 24 low near 82.30. AUD/JPY four-hour chart Trend: Further weakness expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP Price Analysis: The tide turns in favor of bears, critical 0.8605 support eyed FX Street 2 years AUD/JPY picks up bids from intraday low during second consecutive daily drop. 100 and 200-SMAs join 50% Fibonacci retracement of late March drop to test sellers. Key Fibonacci Retracement, one-month-old horizontal resistance challenge recovery moves. AUD/JPY takes a U-turn from 83.75 while trimming the intraday losses to 0.30%, around 83.91 by the press time of early Monday. Following its pullback moves last Thursday, the quote remains pressured. However, a confluence of 50% Fibonacci retracement, 100-SMA and 200-SMA, near 83.85, recently triggered the pair's bounce. Even so, downbeat RSI conditions keep challenging the recovery moves before a 61.8% Fibonacci retracement level… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
