Chart - Courtesy Trading View
Spot Analysis:
AUD/JPY was trading 0.45% lower on the day at 92.53 at around 08:55 GMT
Previous Week's High/ Low: 94.71/ 91.42
Previous Session's High/ Low: 93.16/ 91.89
Fundamental Overview:
The Japanese Yen found safe-haven bids following the unfortunate news of of ex-Japan PM Shinzo Abe being shot, dragging the pair lower.
hopes of improvement in the US-China trade relations, as well as easing fears of the recession keep downside limited.
Technical Analysis:
- AUD/JPY trades depressed below 21-EMA
- Momentum is bearish, RSI is biased lower and below 50 mark
- Recovery attempts struggle at 200H MA
- GMMA indicator is bearish on the intraday charts
Major Support and Resistance Levels:
Support - 92.38 (55-EMA), Resistance - 93.01 (200H MA)
Summary: AUD/JPY capped between 21 and 55 EMAs, breakout will provide a clear directional bias.
