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Add as a preferred source on Google FxWirePro: AUD/JPY finds stiff resistance at 20-DMA (78.42), break above required for upside AUD/JPY rejected at session high by 78.55, trades around 78 handle. Pair struggles to break above 20-DMA at 78.42. Momentum studies are neutral. Upside finds stiff resistance at 78.55 (falling trendline). Break above req…
By FxWirePro Team Aug 11, 2016, 5:36 AM UTC
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AUD/JPY rejected at session high by 78.55, trades around 78 handle.
Pair struggles to break above 20-DMA at 78.42. Momentum studies are neutral.
Upside finds stiff resistance at 78.55 (falling trendline). Break above required for further gains.
On the downside 50-DMA at 78.05 is immediate support, break below finds next support at 77.35 (trendline).
Weekly charts show further upside in the pair. Watchout for break above 78.55 for upside upto 78.65.
Japanese markets stay shut on account of Mountain Day holiday, risk trends to influence direction amid low volumes and limited volatility.
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