Chart - Courtesy Trading View
Technical Analysis:
- AUD/JPY was trading 0.40% lower on the day at 90.11 at around 11:40 GMT.
- Price action has resumed weakness after a brief pause, scope for further downside
- The pair has slipped below daily cloud and 55-week EMA
- Stochs and RSI are sharply lower and bearish RSI divergence adds to the downside bias
- GMMA indicator shows minor trend has turned bearish, while major trend is neutral
Support levels:
S1: 89.75 (Rising trendline)
S2: 88.35 (Lower W BB)
Resistance levels:
R1: 90.83 (5-DMA)
R2: 91.38 (21-EMA)
Summary: AUD/JPY trades with a bearish bias. Scope for test of trendline support at 89.75. Retrace above daily cloud will negate any further downside.
