AUD/JPY chart - Trading View
AUD/JPY trades 0.55% lower on the day at 75.35 at 05:40 GMT, bias bearish.
The pair has resumed weakness after 2-weeks of consolidation.
Recovery attempts were rejected at 20-DMA, Doji formation raises scope for downside.
Momentum studies support further weakness, bears likely to take the pair lower.
Next major bear target lies at 61.8% Fib at 74.45. Lower Bollinger Band at 74.92 could offer some support.
Major trend is bearish. Break above 21-EMA could see minor upside.
Support levels - 75, 74.92 (Lower BB), 74.45 (61.8% Fib)
Resistance levels - 75.68 (5-DMA), 76.10 (20-DMA), 77
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
