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FxWirePro: AUD/JPY pauses five day bearish streak, finds strong support at 110-week EMA

AUD/JPY chart - Trading View 

Technical Analysis: Bias Bearish

- AUD/JPY pauses 5-day bearish streak, outlook remains bearish

- The pair has bounced off strong support at 110-week EMA at 79.067

- GMMA indicator shows major and minor trend are strongly bearish

- Volatility is high and rising and momentum is bearish

- Recovery is capped at 5-DMA which is biased lower

Support levels - 79.067 (110-week EMA), 78.75 (200-week MA), 78

Resistance levels - 79.74 (5-DMA), 80.34 (55-week EMA), 80.36 (200H MA)

Summary: AUD/JPY has paused downside at 110-week EMA support. Technicals support further downside in the pair. Scope for test of 200-week MA. Watch out for break below 110-week EMA  for downside resumption. 

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