- AUD/JPY is extending slump for a second consecutive session, renewed concerns over Brexit after-effects boosted Yen demand.
- The pair extends downside from Tuesday, hits lows of 74.55 before paring some losses to currently trade at around 47.85 levels.
- Speculation about BOJ verbal intervention sees some profit booking in JPY crosses. Techs support further downside.
- Stochs and RSI on the daily charts are inclined south, MACD is well below the zero mark.
- Immediate support and resistance are now located at 74.38 (lower Bollinger Band) and 75 levels respectively.
- Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-breaks-major-support-at-77-level-good-to-sell-on-rallies-231518) has achieved all targets.
Recommendation: Book partial profits, lower trailing stops to 75.50, target 74.35/ 74/ 73.75
