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FxWirePro: AUD/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/JPY was trading 0.68% lower on the day at 91.84 at around 16:30 GMT

- The pair is extending weakness for the 2nd consecutive session, bias bearish

- Price action has been rejected at 200-DMA, 5-DMA has turned

- Stochs has turned lower, Stochs are on verge of bearish rollover

- MACD is on verge of bearish crossover on signal line, Chikou span is biased lower

Support levels - 91.58 (55-EMA), 90.65 (55-week EMA)

Resistance levels - 92.26 (5-DMA), 93.06 (200-DMA)

Summary: AUD/JPY has turned bearish after rejection at 200-DMA. The pair is on track to test 55-EMA support at 91.58. Major weakness below daily cloud.
 

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