- AUD/JPY finds strong support at 'Triangle Base' at 85.50, the pair is struggling to break below.
- Price action on the day has retraced brief dip below 85.50 and is currently at 85.83 levels.
- Wall Street's recovery overnight which has supported Asian markets today (which are trading largely flat) keep yen demand in check.
- Reports earlier today which showed a rise in China's iron ore imports likely to have kept the Aussie slightly bid.
- AUD/JPY edges higher on the day, up 0.38% as we write. We see weakness only on break below 85.50.
- Technical studies support downside. Price action has broken below major moving averages and daily cloud.
- Breach at 'Triangle Base' raises scope for test of 84.66 (Dec 7 low). Bearish invalidation on retrace above 200-DMA.
Recommendation: Watch for decisive break below 86.50 for further weakness, target 85/ 84.70/ 84.35.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro:EUR/AUD eases but bullish outlook persists
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major Crypto levels and bias summary
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
FxWirePro- Woodies Pivot(Major)
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
FxWirePro: GBP/USD dips lower on negative UK retail sales data
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185 



