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FxWirePro: AUD/JPY capped below weekly 100-SMA, break above needed for further upside

  • AUD/JPY has broken major trendline resistance at 84.50.
     
  • Upside remains capped by weekly 100-SMA at 85.60. Breakout above needed for further upside.
     
  • AUD bulls unimpressed by RBA's status-quo, remain largely muted post rate decision.
     
  • Support levels - 84.70 (5-DMA), 84.50 (trendline), 84.05 (38.2% Fib of 102.84 to 72.43 fall)
     
  • Resistance levels - 85.60 (Weekly 100-SMA), 86, 86.70 (Mar 28 week), 87, 87.64 (50% Fib)

FxWirePro's Hourly AUD Spot Index was at -20.2739 (Neutral), while Hourly JPY Spot Index was at -166.075 (Highly bearish) at 0755 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex 
 

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