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AUD/JPY chart - Trading View
AUD/JPY was trading largely unchanged at 65.35 at around 07:35 GMT, slipping lower from session highs at 65.61.
The pair was capped at 5-DMA resistance at 65.64, scope for downside resumption.
The Aussie dollar fails to benefit from above-forecast Aussie retail sales data and a rebound in the Chinese Caixin Services PMI.
Lingering concerns over the Japanese outbreak of COVID-19 would potentially jeopardise the yen's safe-haven allure.
Also, Moody’s on Friday, said it expects Japan’s GDP to contract by 2.4% in 2020, which will have knock-on effects on the job market.
Major trend in the pair is bearish. Price action has been rejected at 21-EMA and has edged below 200H MA.
Dip till lower Bollinger band at 62.811 likely. Breakout at 21-EMA negates bearish bias.
Support levels - 63.80 (23.6% Fib), 62.81 (Lower BB)
Resistance levels - 65.64 (5-DMA), 66.58 (21-EMA)
Guidance: Good to go short on upticks around 65.60, SL: 66.60, TP:65/ 64
