AUD/JPY Technical Analysis: 100-hour EMA is key support

The 100-hour exponential moving average (EMA) is the level to beat for the AUD/JPY bears, as the EMA has acted as strong support in the last 48 hours, capping the pullback from the high of 78.52 clocked on Jan. 15.

Hourly chart

As seen above, the bears are struggling to take out the 100-day EMA on an hourly closing basis.
A sustained break below the EMA, currently at 78.04, would confirm a temporary top is likely in place at 78.52 and could yield a move lower to 77.50.
The prospects of a drop to 77.50 or below would rise if the equity markets trade risk averse. As of writing, futures on the S&P 500 are reporting a 0.10 percent drop.

Trend: bearish below 100-hour EMA

AUD/JPY

Overview:
    Today Last Price: 78.13
    Today Daily change: -8.0 pips
    Today Daily change %: -0.102%
    Today Daily Open: 78.21
Trends:
    Previous Daily SMA20: 77.7
    Previous Daily SMA50: 80.29
    Previous Daily SMA100: 80.41
    Previous Daily SMA200: 81.38
Levels:
    Previous Daily High: 78.38
    Previous Daily Low: 77.9
    Previous Weekly High: 78.36
    Previous Weekly Low: 77.02
    Previous Monthly High: 84.05
    Previous Monthly Low: 77.15
    Previous Daily Fibonacci 38.2%: 78.08
    Previous Daily Fibonacci 61.8%: 78.2
    Previous Daily Pivot Point S1: 77.95
    Previous Daily Pivot Point S2: 77.68
    Previous Daily Pivot Point S3: 77.47
    Previous Daily Pivot Point R1: 78.42
    Previous Daily Pivot Point R2: 78.64
    Previous Daily Pivot Point R3: 78.9

AUD/JPY Technical Analysis: 100-hour EMA is key support

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