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  |   Technicals


FxWirePro: AUD/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

- AUD/JPY was trading 0.59% lower on the day at 81.93 at around 11:40 GMT

- Price action slips further into the daily cloud

- The pair dives lower after Gravestone Doji formation in the previous session

- Momentum is bearish. Stochs and RSI are sharply lower

- Volatility is high and rising, pair trades below 200-DMA

Support levels - 81.69 (110-month EMA), 81.33 (55-week EMA), 81

Resistance levels - 82.74 (200H MA), 82.95 (20-DMA), 84.76 (200-month MA)

Summary: AUD/JPY bias remains bearish as long as pair holds below 200-DMA. Test of 55-week EMA at 81.33 likely.

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