AUD/JPY attempting break above 4-hr 100-MA

The struggle to take out 4-hr 100-MA hurdle of 77.23 continues in the Asian session as the drop in Treasury yields in the North American session has failed to push AUD/USD through key technical resistance.

Sits above 50% Fibo

The AUD/JPY cross sits well above 77.00 levels, which is 50% Fibonacci retracement of Brexit day high/low. The 2-yr treasury yield dropped close to 5 basis points in the overnight trade after US data showed a sharp rise in the savings rate and raised questions regarding the consumption driven economic recovery.

Despite this, the Aussie dollar is having a tough time breaching the key rising trend line resistance of 0.7576. On the other hand, drop in the yields is definitely keeping Dollar-Yen under pressure around 102.00 levels. Thus, the cross finds itself stuck around 4-hr 100-MA since yesterday’s US session.

AUD/JPY Technical Levels

Acceptance above 77.23 (4-hr 100-DMA) would open doors for 77.64 (50-DMA). A violation there could yield 78.09 (61.8% of Brexit day high/low). On the lower side, breach of 77.00 (50% of Brexit day high/low) would expose 76.69 (10-DMA) and 76.00 (Zero figure).