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  • The AUD/JPY is hanging near the 80.00 handle to kick off the new week after last week’s bullish recovery saw a sharp pullback on rising trade concerns.
  • The Aussie is unlikely to receive much long-side support this week as market sentiment remains subdued.
  • Mid-term traders will be looking for a moderate bounce off the 200-hour EMA before the bearish correction continues.

AUD/JPY Chart, 1-Hour

Spot rate 80.07
Relative change Negligible
High 80.18
Low 79.95
   
Trend Bearish
   
Support 1 79.93 (200-hour EMA)
Support 2 79.49 (61.8% Fibo retracement level)
Support 3 78.76 (previous week low)
   
Resistance 1 80.20 (50-hour EMA)
Resistance 2 80.80 (previous week high)
Resistance 3 81.00 (major technical level; key figure)

 

Expert score

5

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