Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
GMMA Indicator
- Major and minor trend are strongly bearish on daily and intraday charts
- Price action is below 200-DMA
Ichimoku Analysis
- Price action has slumped below daily cloud on Friday's trade
- The pair is consolidating previous week's break into weekly cloud
Oscillators
- Momentum strongly bearish, Stochs are RSI are sharply lower on weekly and daily charts
Bollinger Bands
- Bollinger bands are spread wide apart
- Volatility is high and rising
Major Support Levels: 79.72 (110-week EMA)
Major Resistance Levels: 82.89 (200-DMA)
Summary: AUD/JPY was trading with a bearish bias. The pair is consolidating previous session's whopping 2.61% slump. Further weakness on charts. Dip till 110-week EMA at 79.72 likely.
