- AUD/JPY struggles to find direction after Monday’s slump, improved recently.
- 61.8% Fibonacci retracement adds to the upside barrier amid bearish MACD.
- Sellers will wait for a sustained break below 38.2% Fibonacci retracement.
AUD/JPY registers 0.18% gains to 67.90 amid the initial Thursday morning in Asia. The pair recently bounced off 67.60 but stays below the key resistances.
Among them, 100-hour EMA and 61.8% Fibonacci retracement of the early-month fall, around 68.60 and 68.75 respectively, are likely nearby upside barriers that can challenge the recent pullback.
Should buyers manage to dominate past-68.75, 200-hour EMA and the lows marked during the previous week, near 69.50/55, should gain the market attention.
On the downside, 38.2% Fibonacci retracement level of 67.00 remains in the spotlight as a clear break below the same could gradually recall the early-week lows surrounding 64.30.
However, intermediate halts during the fall close to 66.70 and 65.80 can’t be ruled out.
AUD/JPY hourly chart
Trend: Bearish
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