Downside in AUD/JPY accelerating, pair slips below 81.00 handle, currently trading around session lows at 80.70 levels.
- The pair sees strong resistance at 82.0 levels, multiple rejections seen at that level.
- Fresh selling in Nikkei seen as we progress towards early Europe, keeps JPY supported.
- Techs on hourly charts biased lower:
- 5-DMA bearish crossover on 10-DMA
- Stochs and RSI are at oversold, but point south
- MACD shows trend lower- Price action has dipped below the cloud
- Supports on the downside located at 80.40 (78.6% Fib of 90.72 to 77.58 fall), 80.20 (Feb 25th lows), 79.82 (Feb 19th lows).
- Immediate resistance is seen at 80.99 (5-DMA) ahead of 81.09 (10-DMA).
- Our call (http://www.econotimes.com/FxWirePro-AUD-JPY-struggles-to-takeout-8200-resistance-sell-rallies-target-8046-168453) is progressing, hold for targets.
