- A renewed risk-off in the markets after the US launched military strike on Syria.
- Risk assets such as equities, treasury yields, AUD etc. dumped, flight to safe-haven seen.
- Increased cautiousness in the wake of the Trump-Xi Summit to keep pressure on the Aussie.
- AUD/JPY has closed below major trendline support at 83.75, adds to weakness.
- Pair eyes 200-DMA at 81.80. Bearish invalidation only on close above trendline at 83.75.
- Weekly charts remain highly bearish, RSI and Stochs steeply inclined lower.
Support levels - 83, 82.16 (38.2% Fib retrace of 72.43 to 88.17 rally), 81.87 (200-DMA)
Resistance levels - 83.75 (trendline), 84, 84.46 (23.6% Fib) 83.75 (5-DMA)
TIME TREND INDEX OB/OS INDEX
1H Neutral Neutral
4H Bearish Neutral
1D Bearish Neutral
1W Bearish Neutral
Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-breaks-major-trendline-support-at-8375-eyes-200-DMA-stay-short-625055) has hit TP1.
Recommendation: Bias remains bearish, we recommend holding for further downside.
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -36.7002 (Neutral), while Hourly JPY Spot Index was at 39.062 (Neutral) at 0400 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


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