AUD/JPY chart - Trading View
AUD/JPY slumped over 0.80% on Monday, to hit 5-month lows at 80.69, outlook bearish.
The pair has breached major support at 200-DMA at 81.08, raising scope for further downside.
The week starts with dominant risk-off mood as Delta variant raises concerns across the globe.
Technical indicators for the pair are strongly bearish. Price action is below major moving averages and daily cloud.
Momentum is strongly bearish, Stochs and RSI are biased lower. Chikou span is biased lower.
MACD is in the negative territory and supports downside. ADX also adds to the downside bias.
AUD/JPY bears fine immediate hurdle at 55-week EMA at 80.34. Break below will see test of 50% Fib retracement at 79.47.
