AUD/JPY chart - Trading View
AUD/JPY is extending weakness for the 3rd straight session, outlook bearish.
The pair was trading 0.32% lower at 75.15 at around 11:25 GMT, slipping lower from session highs at 75.42.
Rising concerns about worsening US-China relations and resurgence in coronavirus cases across the globe weigh on the pair.
Price action has edged below 200H MA raising scope for further weakness. Price action holds support at 21-EMA. Break below will plummet prices.
Technical analysis shows bias is neutral, but break below 21-EMA will change near-term outlook.
Weekly charts show strong resistance at 110W EMA at 75.59. Break below 21-EMA will see dip till 55-EMA at 73.57 ahead of 23.6% Fib at 72.85.
