FxWirePro: AUD/JPY hovers around 100-DMA, break below to see further weakness

• AUD/JPY struggles to extend break below 100-DMA at 87.25, bias lower.
   
• The pair is trading in a narrow range for 2nd consecutive session, with a day's high at 87.32 and low at 87.13.
   
• Technical studies are bearish. Stochs and RSI sharply lower and MACD shows bearish crossover.
   
• 38.2% Fib retrace of 81.48 to 90.30 rise at 86.93 is immediate support, while 5-DMA at 87.57 is major resistance.

Support levels - 86.93 (38.2% Fib retrace of 81.48 to 90.30 rise), 86.55 (Sept 6 low), 85.95 (200-DMA)

Resistance levels - 87.25 (100-DMA), 87.57 (5-DMA), 87.87 (cloud base)

Recommendation: Watch out for break below 100-DMA, stay short for 86.55/ 86.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -62.5896 (Neutral), while Hourly JPY Spot Index was at 92.2874 (Bullish) at 1040 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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