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FxWirePro: AUD/JPY breaks below 21-EMA, hovers around 80 handle

AUD/JPY chart - Trading View 

Technical Analysis: Bias Bearish

- AUD/JPY has broken below 21-EMA support, scope for further downside

- Major trend is bearish, near-term trend has turned bearish after rejection at 200-DMA

- Momentum is bearish, Stochs and RSI are sharply lower, RSI is below 50 mark

- Price action is below daily cloud and has dipped into the weekly cloud, Chikou span is biased lower

- MACD is on verge of bearish crossover on signal line, ADX supports downside

Support levels - 80 (Psychological mark), 79.76 (23.6% Fib), 79.06 (110-week EMA)

Resistance levels - 80.38 (55-week EMA), 80.63 (21-EMA), 81.14 (55-EMA)

Summary: AUD/JPY was trading 0.27% lower on the day at 80.01 at around 11:10 GMT, extending previous session's 0.92% bearish close. 

The pair is poised for further downside after rejection at 200-DMA and daily cloud. Scope for dip till 200-week MA at 78.48.
 

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