Technical levels for AUD/JPY

Technical levels for AUD/JPY

Trade ideas

BUY 75.00; TP 75.80; SL 74.80

SELL 74.35; TP 73.95; TP 74.50

AUD/JPY is trying to return to positive dynamics. The level of 74.50 which earlier acted as resistance is now functioning as support. If the positive risk sentiment keeps on the pair settles above the last week’s high of 74.80, there will be no significant technical obstacles until 75.80 (resistance line connecting the 2018 and 2019 highs; 200-day MA). The return below 74.38 (50-period MA on the H4) will open the way down to 73.95 and 73.70 (100-day MA).

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