AUD/JPY technical analysis: 100-HMA caps immediate upside
- 100-HMA and RSI levels challenge post-50-HMA breakout momentum.
- 75.00 can return on the upside break.
Even after clearing 50-HMA, AUD/JPY is still left to cross the 100-HMA upside barrier as it takes the rounds to 74.56 during early Tuesday.
With 14-bar relative strength index (RSI) also indicating nearly overbought conditions, pair’s failure to break the 100-hour moving average (100-HMA) can trigger its pullback to 74.44 comprising 50-HMA.
Given the quote’s extended declines beneath 74.44, 74.35 and 74.18 may offer intermediate halts before highlight latest low of 73.92 and the year 2016 low near 72.40.
However, 61.8% Fibonacci retracement level of 75.23 and June 11 high surrounding 75.68 can question buyers afterward.
AUD/JPY hourly chart
Trend: Pullback expected
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