AUD/JPY chart - Trading View
AUD/JPY was trading 1.00% lower on the day at 74.20 at around 05:25 GMT, bias has turned bearish.
Recovery in the pair was capped at 5-DMA on Wednesday's trade and 'Gravestone Doji' formation adds to the bearish pressure.
The yen remains on the front foot so far this Thursday amid risk-off action on the Asian equities
On the data front, Japan’s Business Sentiment Index dives to 11-year low of -47.6 in Q2, but yen largely ignores poor data.
Technical indicators are turning bearish. Stochs and RSI are on verge of rollover from overbought levels.
Ichimoku analysis shows the Chikou Span on the daily charts has turned sharply lower suggesting trend reversal.
Price action has slipped below 200H MA and major and minor trend have turned bearish on the hourly charts.
The pair is holding support at Tenkan Sen at 74.19. Decisive break below will see dip till 23.6% Fib at 72.79 ahead of 200-DMA at 72.24.
