AUD/JPY chart - Trading View
Technical Analysis: Bias Bearish
- AUD/JPY pauses 5-day bearish streak, outlook remains bearish
- The pair has bounced off strong support at 110-week EMA at 79.067
- GMMA indicator shows major and minor trend are strongly bearish
- Volatility is high and rising and momentum is bearish
- Recovery is capped at 5-DMA which is biased lower
Support levels - 79.067 (110-week EMA), 78.75 (200-week MA), 78
Resistance levels - 79.74 (5-DMA), 80.34 (55-week EMA), 80.36 (200H MA)
Summary: AUD/JPY has paused downside at 110-week EMA support. Technicals support further downside in the pair. Scope for test of 200-week MA. Watch out for break below 110-week EMA for downside resumption.
