AUD/JPY Price Analysis: Bounces back to 76.00, keeps break of short-term support

• AUD/JPY consolidates the break of 76.22/18 support confluence comprising 50-bar SMA, eight-day-old rising trend line.
• Friday’s low, early November tops can offer intermediate stops before 100/200-bar SMA joint.
• Weekly resistance line adds filters to the bull’s entry.

AUD/JPY retraces from a three-day low to 76.10 during the early Wednesday morning in Australia. The pair fell to 75.89 during Tuesday’s early US session after breaking the short-term SMA and support line, now resistance.

However, the MACD remains bearish and the bounce keeps the key confluence breakdown, which in-turn favors AUD/JPY sellers to keep Friday’s low of 75.75 as an immediate target.

During the quote’s further weakness past-75.75, highs marked during November 04 and 05, near 75.45 can offer intermediate support ahead of highlighting 100 and 200-bar SMA intersection near 75.20.

Meanwhile, an upside clearance of 76.22 isn’t enough for the AUD/JPY buyers’ re-entry as a falling trend line from November 11, at 76.62 now, offers an additional resistance to watch.

If at all the quote manages to cross 76.62, the latest high of 76.77 and the monthly peak close of 77.10 should return to the charts.

AUD/JPY four-hour chart

Trend: Further weakness expected