Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- AUD/JPY was trading 1.03% lower on the day at 93.63 at around 13:00 GMT
- The pair is extending weakness for the 3rd straight session, more downside on cards
- Price action has slipped below 5-DMA which is now trending lower
- GMMA indicator shows major trend is bullish, but minor trend has turned bearish
- MACD is on verge of bearish crossover on signal line, Chikou span is biased lower
Support levels - 93.12 (21-EMA), 92.65 (Cloud top), 92.37 (50-DMA)
Resistance levels - 94.80 (200H MA), 95.16 (5-DMA), 96.93 (Upper BB)
Summary: AUD/JPY trades with a bearish bias. Bears eye cloud top at 92.65. Breach into cloud will drag the pair lower.
