Chart - Courtesy Trading View
AUD/JPY was trading 0.15% lower on the day at 92.85 at around 15:45 GMT. The pair is extending weakness below 110-EMA, outlook remains bearish.
The Australian dollar remains under pressure after the Reserve Bank of Australia (RBA) on Friday warned financial stability risks have increased over recent months.
Price action has slipped below 110-EMA and daily cloud, raising scope for further downside.
Recovery attempts have been rejected at 21-EMA, any change in near-term trend only on decisive break above.
Technical indicators are biased lower. Momentum is with the bears, volatility is high and rising. GMMA indicator shows major and minor trend are bearish.
The pair is on track to test 200-DMA at 90.58. Breach below 200-DMA will open up downside in the pair. Bearish invalidation only above 21-EMA.
