FxWirePro: AUD/JPY edges higher from session lows at 89.71, bias still lower, good to sell rallies

AUD at mercy of stock unwind trades after latest Chinese PMI data exacerbated the sense of risk-aversion

• Asian markets extend their free-fall for the second straight session on Friday, stock sell-off suggests more position adjustments tonight 
   
• Geo-political tensions in Turkey, Greece, and Korean Peninsula add to the generalized risk aversion, helping safe-haven Japanese yen 
   
• AUD/JPY hit session lows at 89.71, before paring some losses to currently trade at 89.80
   
• Strong support for the pair is seen at 89.71, and then at 89.52, while resistance on the topside is located at 89.98 (session high) and then at 90.50
   
• Bias still lower, bears under control, test of 89.33 (Jul 28 low) likely, however caution advised as Stochs and RSI at oversold levels

Recommendation: Good to sell rallies at 89.90, SL: 90.50, TP: 89.30