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.
