FxWirePro: AUD/JPY heavy amid renewed risk-off, on track to test 200-DMA at 81.87, stay short

• A renewed risk-off in the markets after the US launched military strike on Syria.
   
• Risk assets such as equities, treasury yields, AUD etc. dumped, flight to safe-haven seen.
   
• Increased cautiousness in the wake of the Trump-Xi Summit to keep pressure on the Aussie.
   
• AUD/JPY has closed below major trendline support at 83.75, adds to weakness.
   
• Pair eyes 200-DMA at 81.80. Bearish invalidation only on close above trendline at 83.75.
   
• Weekly charts remain highly bearish, RSI and Stochs steeply inclined lower.

Support levels - 83, 82.16 (38.2% Fib retrace of 72.43 to 88.17 rally), 81.87 (200-DMA)

Resistance levels - 83.75 (trendline), 84, 84.46 (23.6% Fib) 83.75 (5-DMA)

TIME  TREND INDEX  OB/OS INDEX    

1H          Neutral                Neutral       
4H          Bearish               Neutral       
1D          Bearish               Neutral        
1W         Bearish               Neutral      

Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-breaks-major-trendline-support-at-8375-eyes-200-DMA-stay-short-625055) has hit TP1. 

Recommendation: Bias remains bearish, we recommend holding for further downside.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -36.7002 (Neutral), while Hourly JPY Spot Index was at 39.062 (Neutral) at 0400 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.