FxWirePro: AUD/JPY capped at 55-EMA, safe-haven demand underpins JPY

AUD/JPY chart - Trading View 

AUD/JPY was trading 0.46% lower at 68.51 at around 09:45 GMT after closing largely muted in the previous session.

The pair has formed a 'Shooting Star' pattern on 10th April candle raising scope for further downside.

55-EMA is capping upside in the pair. RSI is turning and Stochastics are at overbought levels which raise scope for reversal.

GMMA indicator shows major trend in the pair is neutral and minor trend is slowly fading upside.

Reviving safe-haven demand amid persistent worries over the economic fallout from the coronavirus pandemic underpinned the JPY, adding to downside pressure. 

5-DMA is immediate support at 68.185. Break below will see further weakness. Next major support aligns at 21-EMA at 67.19 ahead of 20-DMA at 66.