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FxWirePro: AUD/JPY holds trend-line support at 85.65, weakness only on breaks below

Antipodeans extended downside as divergent monetary policy outlooks between the Fed and OZ central banks (RBA & RBNZ) continue to weigh The yen on the other hand regained lost ground, staged a solid comeback on upbeat Ja…

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FxWirePro: AUD/JPY holds trend-line support at 85.65, weakness only on breaks below
Image from the original EconoTimes article

Antipodeans extended downside as divergent monetary policy outlooks between the Fed and OZ central banks (RBA & RBNZ) continue to weigh

  • The yen on the other hand regained lost ground, staged a solid comeback on upbeat Japan's industrial output figures
  • Data appears to ease the pressure on the BOJ to ease this week supporting JPY
  • AUD/JPY lower on the day, but holds trend-line support at 85.65, is currently  trading at 85.79
  • Immediate resistance for the pair lies at 86.00 (4h 200 MA) and strong trendline support is at 85.65 
  • Daily Techs point South, breaks below  trendline support at 85.65 could take the pair to 85 levels

Resistance Levels:

R1: 86.00 (4h 200 MA)
R2: 86.18 (4h Tenkan)
R3: 86.23 (Daily cloud top)

Support Levels:

S1: 85.65 (Trendline support)
S2: 85.61 (Oct 28 lows)
S3: 85.10 (Oct Oct 6 lows)

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