Home AUD/JPY Technical Analysis: extends post trend line break momentum towards 77.00
FXStreet News

AUD/JPY Technical Analysis: extends post trend line break momentum towards 77.00

  • The AUD/JPY pair extends break of month-long ascending support-line by trading around 77.85 on early Friday.
  • Next on sellers’ radar is the 77.05-77.00 horizontal-support that includes lows of January 07 and 10.
  • Should oversold levels of 14-bar relative strength index (RSI) fails to trigger the U-turn from 77.00, then 76.00, 75.20 and 73.95 are likely consecutive supports to grab market attention.
  • Meanwhile, early month lows near 78.70 may restrict the pair’s immediate upside, breaking which highlights the month’s high of 79.85.
  • During the pair’s successful rise above 79.85, the 80.65-70 region, comprising early December lows, seems crucial to watch for resistance.

AUD/JPY 4-Hour chart

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.