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FxWirePro: AUD/JPY major support at 79.60, weakness only on breaks below

  • AUD/JPY has been trading a falling channel on the weekly charts.
     
  • Major support is seen around 76.50 to 79.60 zone. Breaks below could see test of 77.60 level.
     
  • Further weakness could see test of channel base at 75 levels.
     
  • On the flipside, 82 is major resistance. Bearish invalidation only above 82.

Recommendation: Good to sell breakout below 79.60, target 77.60
 

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