Chart - Courtesy Trading View
Technical Analysis:
- AUD/JPY was trading largely unchanged at 91.64 at around 10:00 GMT
- The pair is extending downside for the fourth straight session, outlook bearish
- MACD confirms bearish crossover on signal line, Chikou span is biased lower
- Stochs and RSI are biased lower, momentum is with the bears
- Price action is below 200H MA, GMMA shows major and minor trend are bearish on the intraday charts
Support levels:
S1: 91.58 (55-EMA)
S2: 90.90 (cloud top)
Resistance levels:
R1: 92.05 (5-DMA)
R2: 92.27 (200H MA)
Summary: AUD/JPY trades with a bearish bias. The pair has been rejected at 200-DMA and has been extending downside for the 4th straight session. Bears target daily cloud at 90.90, break below will see more weakness.
