AUD/JPY stays pressured around 77.00 amid the early Friday morning in Asia. In doing so, the Aussie cross keeps 50-bar SMA as the key immediate resistance since September 03 while 200-bar SMA offers strong downside support.
Considering the pair’s latest pullback from the upside barrier, its drop to 61.8% Fibonacci retracement level of August 20-31 upside, at 76.70, becomes more likely. Though, any further weakness will be challenged by 76.50 level comprising 200-bar SMA.
In a case where the AUD/JPY prices remain depressed below 76.50, the monthly low of 76.12 and August 20 bottom surrounding 75.60 will be in the spotlight.