AUD/JPY chart - Trading View
AUD/JPY was trading 0.65% lower on the day at 75.34, extending downside for the 2nd straight session.
The pair seems to have been dented as risk aversion intensifies adding pressure on the risk assets.
Sentiment remains depressed amid escalating US-China tensions and negative action in the Asian equities.
Price action has retraced below 110W EMA and weekly cloud and has slipped below 200H MA.
Major trend remains bullish, but break below 200H MA has raised scope for more weakness.
21-EMA is strong support at 74.89. Break below could see drag till cloud. Major weakness only below 200-DMA.
Decisive close above 110W EMA required for upside resumption. Hurdles on the upside align at 78.67 (61.8% Fib) ahead of 200W MA (79.93).
Major Support: 74.89 (21-EMA)
Major Resistance: 75.60 (110W EMA)
