AUD/JPY Price Analysis: Struggles to extends pullback from key supports beyond 76.00

• AUD/JPY fades upside momentum from 200-bar SMA, six-week-old support line.
• A one-month-old falling trend line becomes the key resistance.
• Bears can aim for a fresh monthly low on the break of the key SMA.

AUD/JPY eases 76.17 to 76.10 amid the early Friday morning in Asia. In doing so, the cross fails to keep the recovery moves from 200-bar SMA and an ascending trend line from July 10 amid bearish MACD.

As a result, sellers may again attack the immediate support line, at 75.70 now, ahead of revisiting the key SMA level of 75.57. However, its further downside will be enough to refresh the monthly low of 75.10 to flash figures near the 75.00 threshold.

In a case where the bears refrain from respecting 75.00, July 30 low near 74.80 and the previous month’s bottom close to 73.90 will be in the spotlight.

On the contrary, 76.20 becomes adjacent upside barrier before a falling trend line from July 22, currently around 76.65, a break of which will recall the bulls targeting 77.00.

During the pair’s further rise past-77.00, February 2019 low near 77.45 can lure the bulls.

AUD/JPY four-hour chart

Trend: Further weakness expected'