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  • AUD/JPY trades near 78.20 ahead of the Bank of Japan’s (BoJ) monetary policy meeting on early Friday.
  • The quote recently confirmed inverse head and shoulders bullish formation by clearing 79.00 on hourly chart and is presently rising toward three-week-old descending trend-line, at 79.50.
  • Should prices manage to cross 79.50 immediate upside barrier, February month highs near 79.80/85 could act as buffers prior to highlighting 80.00 round-figure.
  • Also, 61.8% Fibonacci expansion (FE) of its early January – March moves, around 80.60, may gain buyers’ attention post-80.00.
  • Alternatively, pair’s dip beneath 79.00 can take rest on a weeklong upward sloping support-line at 78.60, a break of which may extend the pullback to 78.30 and 78.00.
  • However, an ascending trend-line stretched since January 07 can challenge sellers around 77.70, if not then 77.00 can come back on the chart.

AUD/JPY 4-Hour chart

Additional important levels:

       Today Last Price:  79.16
       Today Daily change: 25  pips
       Today Daily change %:  0.32%
       Today Daily Open:  78.91
       Daily SMA20:  78.97
       Daily SMA50:  78.58
       Daily SMA100:  79.71
       Daily SMA200:  80.55
       Previous Daily High:  78.98
       Previous Daily Low:  78.57
       Previous Weekly High:  79.65
       Previous Weekly Low:  77.72
       Previous Monthly High:  79.85
       Previous Monthly Low:  77.44
       Daily Fibonacci 38.2%:  78.82
       Daily Fibonacci 61.8%:  78.73
       Daily Pivot Point S1:  78.66
       Daily Pivot Point S2:  78.41
       Daily Pivot Point S3:  78.25
       Daily Pivot Point R1:  79.07
       Daily Pivot Point R2:  79.23
       Daily Pivot Point R3:  79.48