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 sellin…
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.
