AUD/JPY Technical Analysis: lacks direction after Doji
The AUD/JPY cross is trading in a sideways manner for the second day, having charted a doji candle on Friday, which represents indecision in the marketplace.
Daily chart
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Friday's doji indicates that the recovery rally from the Jan. 4 low of 75.24 has likely run out of steam. A convincing close below 78.39 (low of doji candle) would confirm a bear reversal. Meanwhile, 79.10 (high of doji candle) is the level to beat for the bulls.
With the 14-day relative strength index (RSI) still biased bearish, the probability of a break below 78.39 is high. After all, the prospects of breakthrough US-China trade deal is quite low.
Hourly chart
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The pair is struggling to gather upside traction despite the ascending triangle breakout on the hourly chart. That only validates the bullish exhaustion signaled by Friday's doji candle.
Trend: teasing bear reversal
AUD/JPY
Overview:
Today Last Price: 78.45
Today Daily change: -0.07 pips
Today Daily change %: -0.09%
Today Daily Open: 78.52
Trends:
Daily SMA20: 77.72
Daily SMA50: 80.07
Daily SMA100: 80.36
Daily SMA200: 81.31
Levels:
Previous Daily High: 78.72
Previous Daily Low: 78.28
Previous Weekly High: 79.11
Previous Weekly Low: 77.56
Previous Monthly High: 84.05
Previous Monthly Low: 77.15
Daily Fibonacci 38.2%: 78.45
Daily Fibonacci 61.8%: 78.55
Daily Pivot Point S1: 78.3
Daily Pivot Point S2: 78.07
Daily Pivot Point S3: 77.85
Daily Pivot Point R1: 78.74
Daily Pivot Point R2: 78.95
Daily Pivot Point R3: 79.18