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AUDJPY Bears Poised: Sell Rallies at 111.55 for 108 Target with 112.20 Stop 
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- USD/JPY edges lower from 8-1/2 month highs, slips below 113 handle, intraday bias lower.
- The pair has broken below 1H 20-SMA and is on track to test 1H 100-SMA at 111.84.
- Bearish invalidation only above hourly 20-SMA at 113.34.
- Support levels - 112.55 (session low), 112 (5-DMA), 111.84 (1H 100-SMA)
- Resistance levels - 113.20 (1H 5-SMA), 113.34 (1H 20-SMA), 113.90 (session high)
Recommendation: Good to sell rallies around 112.85, SL: 113.35, TP: 112.55/ 112/ 111.84
Violation at 1H 100-SMA at 111.84 could see downside upto 110.68 (1H 200-SMA)
FxWirePro's Hourly USD Spot Index was at 44.1301(Neutral), while Hourly JPY Spot Index was at -51.8029 (Neutral) at 0850 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
