AUD/JPY back below trendline resistance, good to sell rallies around 89 levels
Poor China trade data keeps the Aussie pressurised and the resulting data-led risk-off supports Japanese Yen AUD/JPY dips below resistance at 89.11, slips to session lows at 88.87, break below 200-HMA could see moves tow…
Poor China trade data keeps the Aussie pressurised and the resulting data-led risk-off supports Japanese Yen
AUD/JPY dips below resistance at 89.11, slips to session lows at 88.87, break below 200-HMA could see moves towards ascending 88.45 daily kijun
Strong support is seen by rising trendline at 88.40, breaks below could see further weakness. On the flipside daily Tenkan at 89.38 is immediate resistance ahead of 89.66 Session high (Dec 8)
Daily RSI and Stochs have rolled over from overbought zone and show southward bias
We would sell rallies around 89.20 levels, placing stops at 89.70, TP1: 88.45, breaks below 88.40 could then see TP2: 88.00
