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FxWirePro: AUD/JPY slips below 0.81 handle, fresh selling in Nikkei keeps JPY supported

Downside in AUD/JPY accelerating, pair slips below 81.00 handle, currently trading around session lows at 80.70 levels.

  • The pair sees strong resistance at 82.0 levels, multiple rejections seen at that level.
     
  • Fresh selling in Nikkei seen as we progress towards early Europe, keeps JPY supported.
     
  • Techs on hourly charts biased lower:

    - 5-DMA bearish crossover on 10-DMA
    - Stochs and RSI are at oversold, but point south
    - MACD shows trend lower- Price action has dipped below the cloud

     
  • Supports on the downside located at 80.40 (78.6% Fib of 90.72 to 77.58 fall), 80.20 (Feb 25th lows), 79.82 (Feb 19th lows).
     
  • Immediate resistance is seen at 80.99 (5-DMA) ahead of 81.09 (10-DMA).
     
  • Our call (http://www.econotimes.com/FxWirePro-AUD-JPY-struggles-to-takeout-8200-resistance-sell-rallies-target-8046-168453) is progressing, hold for targets.

 

  • Market Data
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