AUD/JPY takes a U-turn from seven-month-old support-line with RSI conditions being oversold. 23.6% Fibonacci retracement and June low can reappear during the extended pullback. The year 2016 bottom may stop bears targeting January lows in a case of further decline. Despite trading at the lowest levels in seven-month, the AUD/JPY pair pulls back from medium-term support-line at it trades near 73.10 during the early Asian session on Friday. Not only a downward-sloping trend-line since January 10 but the oversold condition of 14-day relative strength index (RSI) also signals brighter chances of the quote’s recovery. In doing so, 23.6% Fibonacci retracement of December 2018 to January 2019 downpour, at 73.83, becomes the first resistance to watch, followed by June month low of 73.92, June 19 high near 74.78 and 21-day exponential moving average (EMA) level of 74.98. Should prices refrain from respecting the support-line and RSI by declining further below the recent low of 72.89, June 2016 bottom surrounding 72.40 and current year low of 70.71 will be in the spotlight. AUD/JPY daily chart Trend: Pullback 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/AUD bears taken to the cleaners on surprise tariff announcement from Trump FX Street 4 years AUD/JPY takes a U-turn from seven-month-old support-line with RSI conditions being oversold. 23.6% Fibonacci retracement and June low can reappear during the extended pullback. The year 2016 bottom may stop bears targeting January lows in a case of further decline. Despite trading at the lowest levels in seven-month, the AUD/JPY pair pulls back from medium-term support-line at it trades near 73.10 during the early Asian session on Friday. Not only a downward-sloping trend-line since January 10 but the oversold condition of 14-day relative strength index (RSI) also signals brighter chances of the quote's recovery. In doing so, 23.6% Fibonacci retracement… 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.
