FxWirePro: AUD/JPY struggles at 200-DMA, good to go short on break below

• AUD/JPY has retraced from session lows at 81.88 and is currently holding above the 82 handle.
   
• The pair is struggling to extend slump below 200-DMA currently at 81.95.
   
• We see resumption of downside only on decisive break below 200-DMA.
   
• Next major support below 200-DMA lies at weekly cloud top at 81.58. Break below required for further downside.
   
• Momentum indicators are in oversold territory, but we do not see major signs of reversal on charts.
   
• We expect some consolidation at current levels. 
   
• Support levels - 81.95 (200-DMA), 81.60 (converged trendline and weekly cloud top), 81
   
• Resistance levels - 82.88 (5-DMA), 83, 83.25 (April 11 high), 83.75 (trendline)
   

Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-breaks-major-trendline-support-at-8375-eyes-200-DMA-stay-short-625055) has achieved all targets.

Recommendation: Book full profits at lows. 

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -56.9128(Neutral), while Hourly JPY Spot Index was at 48.9352 (Neutral) at 0640 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.