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AUD/JPY chart on Trading View used for analysis
- AUD/JPY has paused downside at 55-EMA support at 81.17. Break below to see further weakness.
- The pair is trading in a downward sloping channel and is extending weakness after rejection at channel top.
- Technical studies are biased lower, RSI has turned and Stochs have rolled over from overbought levels.
- MACD is on verge of bearish crossover on signal line which if completed adds to the bearish bias.
- Break below 55-EMA eyes next support at daily cloud. On the flipside, decisive breakout at 200-DMA to see further upside.
Support levels - 81.17 (55-EMA), 81.04 (23.6% Fib), 80.74 (cloud top)
Resistance levels - 81.95 (200-DMA), 82.07 (5-DMA), 82.58 (38.2% Fib)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
