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FxWirePro: AUD/JPY holds cloud top support at 82.90, good to go short on breaks below

  • AUD/JPY broke rising trendline support at 84 on Tuesday's trade, downside capped by daily cloud which is strong support.
     
  • Pair struggles to breach cloud top currently at 82.90, we see scope for further downside only on a decisive close below.
     
  • Immediate support and resistance are located at 82.90(cloud top) and 83.67 (Mar 6th highs) respectively.
     
  • Technicals are supportive of downside in the pair, momentum studies are bearish.

Recommendation: Good to short breaks below 82.90, SL: 83.70, TP: 82.20/82/81.50
 

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