- AUD/JPY drops after the BOJ monetary policy meeting.
- Weekly support line, 200-HMA on the sellers’ radars.
- Buyers will enter beyond 69.30.
Alike all other pairs comprising the Japanese yen, AUD/JPY also drops to 69.05, still up 0.96% on a day, after the BOJ’s monetary policy decision on early Monday.
Read: Breaking: BOJ eases policy further, boosts purchases of corporate bond, commercial paper, USD/JPY drops
In doing so, the pair marks a reversal from the monthly high surrounding 69.30, which in turn drags it near the multiple stops around 69.00.
During the pairs’ further downside, a one-week-old rising trend line near 68.50 and a 200-HMA level of 68.25 becomes the key.
Should there be a further downside past-68.25, 67.30 will be important to watch as it holds the gate for the monthly bottom surrounding 64.40.
Alternatively, an upside clearance of 69.30 enables the bulls to aim for 70.00 round-figure whereas March month top near 71.52 could lure the buyers next.
AUD/JPY hourly chart
Trend: Pullback expected
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