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FxWirePro: AUD/JPY major support at 79.60, weakness only on breaks below

AUD/JPY has been trading a falling channel on the weekly charts. Major support is seen around 76.50 to 79.60 zone. Breaks below could see test of 77.60 level. Further weakness could see test of channel base at 75 levels.…

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FxWirePro: AUD/JPY major support at 79.60, weakness only on breaks below
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  • AUD/JPY has been trading a falling channel on the weekly charts.
     
  • Major support is seen around 76.50 to 79.60 zone. Breaks below could see test of 77.60 level.
     
  • Further weakness could see test of channel base at 75 levels.
     
  • On the flipside, 82 is major resistance. Bearish invalidation only above 82.
    ​

Recommendation: Good to sell breakout below 79.60, target 77.60
 

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