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FxWirePro: AUD/JPY Daily Outlook

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. 
 

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