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.
