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AUD/JPY chart - Trading View
AUD/JPY hovers around 5-DMA, pauses 2 straight sessions of upside, bias turning neutral.
The pair was trading 1.09% lower on the day at 63.50 at around 07:00 GMT after closing 1.06% higher on Friday's trade.
Major trend in the pair is bearish, but a 'bullish divergence' and 'oversold oscillators' hold scope for upside.
Australia's government on Monday announced a second major economic rescue package worth $66 billion, on top of an initial $17.6 billion package.
The pair largely unimpressed. Risk aversion continues to drive markets, weighs on the upside.
TIME TREND INDEX OB/OS INDEX
1H Neutral Neutral
4H Bearish Neutral
1D Bearish Neutral
1W Bearish Oversold
Support levels - 62.706 (Hourly cloud), 59.869 (Mar 19 low)
Resistance levels - 65.175 (200H MA), 66.238 (38.2% Fib)
Summary: Major trend is bearish, but 'bullish divergence' and 'oversold oscillators' hold scope for minor upside. Watch out for break above 200H MA for further gains.
