AUD/JPY Continues Fluctuation but Targets the Resistance at Level 75.50

AUD/JPY Continues Fluctuation but Targets the Resistance at Level 75.50

Key Resistance Levels: 74.00, 76.00, 78.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Ranging
The AUD/JPY pair is on a sideways trend. The market is currently fluctuating between levels 74.00 and 76.00. The price has fallen to the middle of price range. It is unclear if the downward move will extend to level 74.00. Presently, price is fluctuating above level 75.00.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move. The pair has fallen to level 58 of the Relative Strength Index period 14. The price is in the uptrend zone but above the centerline 50.

AUD/JPY Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating in a tight range between levels 75.00 and 75.50 Nonetheless, the AUD/JPY has fallen to the support line of the lower price range. The direction of price is uncertain. Since on July 24, level 75.00 has been holding as price move up. Perhaps the market may move up.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The AUD/JPY pair is currently below 40% range of the daily stochastic. It indicates a bearish momentum. The price action is indicating a bullish signal. The SMAs are sloping sideways indicating the sideways trend.


General Outlook for AUD/JPY
The AUD/JPY pair is currently fluctuating in a tight range. The market will move up if the current price level holds. In other words, the price will rise to level 75.50 and reverse to resume the fluctuations. However, if any of these levels are broken the market will trend.


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results





  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Share with other traders!