Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- AUD/JPY was trading 0.55% lower on the day at 89.62 at around 13:10 GMT
- Price action has slipped below 55-EMA, upside remains capped at 21-EMA
- RSI is biased lower, is now below the 50 mark, Stochs are flat
- MACD supports downside. GMMA indicator shows major trend is neutral, while minor trend is turning bearish
Support levels:
S1: 88.27 (Cloud base)
S2: 88.01 (110-EMA)
Resistance levels:
R1: 90.03 (55-EMA)
R2: 90.66 (21-EMA)
Summary: AUD/JPY trades with a bearish bias. Scope for test of cloud base support. Break below cloud will plummet prices.