- AUD/JPY trades near 77.80 during early Monday.
- The quote presently struggles with the seven-week-old ascending supportline ranging from February 08 and requires a dip beneath recent low of 77.70 in order to validate the downside targeting January 10 bottom near 77.10.
- However, February month low around 77.50 can offer intermediate halt whereas 77.00 mark could please sellers past-77.10.
- Additionally, 76.00 and 75.30 are likely following numbers to appear on the chart if sellers keep dominating trade sentiment under 77.10.
- It should also be noted that the 14-bar relative strength index (RSI) is in the negative territory and signals pullback.
- Alternatively, 78.40 can limit immediate upside ahead of highlighting 200-bar simple moving average (SMA) at 78.85.
- During the pair’s additional rise past-78.85, 79.00 and a downward sloping trendline stretched since February 21, at 79.30, become important to watch.
- Moreover, the pair’s sustained break of 79.30 enables it to target 79.60 and 80.00 during further upside.
AUD/JPY 4-Hour chart
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