We see strong resistance for AUD/JPY at 82.0 levels, multiple rejections seen at that level.
- The pair has edged lower after rejection at 82.01 and is currently trading around 81.52 levels.
- Techs on hourly charts biased lower:
- 5-DMA bearish crossover on 10-DMA
- Stochs and RSI rolled over from overbought territory, point south
- MACD histogram below zero with bearish MACD line crossover on signal line
- Supports on the downside located at 81.15 (session lows Feb 15th), 81.00 (session lows Feb 18th), 80.46 (session lows Feb 16th).
Recommendation: Sell rallies around 81.60, SL: 82.10, TP: 81.15/ 81/80.50
