FxWirePro: AUD/JPY slips lower for the fourth straight session, edges closer towards 200-DMA

Chart - Courtesy Trading View 

AUD/JPY was trading 0.69% lower on the day at 91.15 at around 05:15 GMT.

The pair is extending weakness for the fourth straight session, outlook remains bearish.

On the data front, National Australia Bank’s (NAB) Business Conditions improved to 25 during September from 18 expected and 20 prior but the Business Confidence gauge slipped lower to 5 versus 10 previous. 

Earlier in the day, Australia Westpac Consumer Confidence dropped to -0.9% for October versus 3.9% prior.

Geopolitical, as well as economic fears amid the ongoing Russia-Ukraine and the Sino-American tussles also weigh on the Australian dollar.

Technical bias for the pair is bearish. Focus on Fed Minutes and US inflation data for further impetus. 

Major Support Levels: 

S1: 90.66 (200-DMA)

S2: 89.57 (55-week EMA)

Major Resistance Levels: 

R1: 92.47 (5-DMA)

R2: 93.25 (200H MA)

Summary: AUD/JPY trades with a bearish bias. The pair eyes 200-DMA support at 90.66. Break below will open downside.