FxWirePro: AUD/JPY rejected at 21-EMA, drag till trendline support at 78.15 likely

AUD/JPY chart on Trading View used for analysis

• AUD/JPY has is extending weakness after rejection at 21-EMA resistance.
   
• The pair is trading 0.70% lower on the day at 79.33 at the time of writing.
   
• Momentum studies are bearish, scope for further weakness in the pair.
   
• Drag till trendline support at 78.15 likely. Breach there could see further weakness.
   
• On the flip side, 21-EMA is major resistance. Any upside only on break above.

Support levels - 79 (Oct 11 low), 78.15 (trendline support)

Resistance levels - 79.80 (5-DMA), 80.48 (20-DMA)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.