AUD/JPY Technical Analysis: pair could have a relook at 50-hour MA support

• The bearish divergence and the rounding top on the hourly chart relative strength index (RSI) indicates the AUD/JPY could revisit the ascending (bullish) 50-hour moving average (MA) support, currently seen at 81.13.
• The high of 81.66 clocked yesterday could be put to test again if the cross sees a strong rebound from the rising 50-hour MA.

Hourly Chart

Spot Rate: 81.38

Daily High: 81.61

Daily Low: 81.36

Trend: Intraday bearish

Resistance

R1: 81.66 (previous day’s high)

R2: 81.93 (100-day MA + 6.8% Fib R of 83.94/78.68)

R3: 82.80 (Aug. 8 high)

Support

S1: 81.36 (50-day MA)

S2: 81.13 (50-hour MA)

S3: 80.88 (5-day MA)