FxWirePro: AUD/JPY capped at 100-DMA, near-term bias bearish

AUD/JPY chart - Trading View 

• AUD/JPY capped at 100-DMA at 78.87, slips lower from session highs at 78.92.
   
• The pair is trading 0.45% lower on the day at 78.43 at 0700 GMT, bias remains bearish.
   
• Aussie depressed on weaker-than-expected China Manufacturing PMIs.
   
• Data released early today showed China’s manufacturing sector barely expanded in April with both government and private PMIs missing estimates.
   
• AUD/JPY finds strong trendline support at 78.30. Break below will see further drag. Scope for weakness till 38.2% Fib at 76.85. 
   
• Immediate resistance lies at 100-DMA at 78.88. Break above eyes 55-EMA at 79.13. Bearish invalidation only above 200-DMA.

Support levels - 78.32 (nearly converged 23.6% Fib and trendline), 78, 76.85 (38.2% Fib)

Resistance levels - 78.88 (100-DMA), 79.13 (55-EMA), 79.40 (110-EMA)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.