- JPY bulls completely in charge, AUD/JPY sinks to new 4-year low of 76.89.
- Breaks all support levels, holds support at 76.86 (low for the week ended May 21st 2012).
- Techs bearish alignment supports further downside, we see scope for 75.98 and then 75.40
- Markets now await BOJ Governor Kuroda’s press conference scheduled ahead of the European open.
- The pair has edged higher from session lows at 76.86 to retake the 77 handle.
- Uncertainty heading into Brexit referendum to see increased JPY demand.
Recommendation: Use upticks for buying opportunities, SL: 78, TP: 76/75.40
