AUD/JPY appears to be pulling back ahead of the 50-Day SMA (92.76) as it extends the decline from the start of the week.
In turn, AUD/JPY may track the negative slope in the moving average as it struggles to hold above the 91.50 (61.8% Fibonacci retracement) to 91.70 (38.2% Fibonacci extension) region, with a break/close below 90.50 (61.8% Fibonacci extension) raising the scope for a move towards 89.20 (61.8% Fibonacci extension).
Next area of interest comes in around 0.8660 (78.6% Fibonacci retracement) to 0.8740 (78.6% Fibonacci extension), but AUD/JPY may attempt to further retrace the decline from the monthly high (95.32) should it hold above 90.50 (61.8% Fibonacci extension).
Need a break/close above the 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension) zone to bring the 95.10 (38.2% Fibonacci extension) to 95.20 (23.6% Fibonacci extension) region on the radar, with the next area of interest coming in around the March high (95.75).
--- Written by David Song, Senior Strategist at FOREX.com
In turn, AUD/JPY may track the negative slope in the moving average as it struggles to hold above the 91.50 (61.8% Fibonacci retracement) to 91.70 (38.2% Fibonacci extension) region, with a break/close below 90.50 (61.8% Fibonacci extension) raising the scope for a move towards 89.20 (61.8% Fibonacci extension).
Next area of interest comes in around 0.8660 (78.6% Fibonacci retracement) to 0.8740 (78.6% Fibonacci extension), but AUD/JPY may attempt to further retrace the decline from the monthly high (95.32) should it hold above 90.50 (61.8% Fibonacci extension).
Need a break/close above the 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension) zone to bring the 95.10 (38.2% Fibonacci extension) to 95.20 (23.6% Fibonacci extension) region on the radar, with the next area of interest coming in around the March high (95.75).
--- Written by David Song, Senior Strategist at FOREX.com
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.