Aussie was hammered on poor Australia capex data, pushing AUD/JPY lower. The pair failed near three-month highs and dropped sharply thereon, down around -0.39% to 88.67.
- Renewed weakness in USD/JPY on the back of a minor correction after Wednesday's rally, also accentuated the downside in the cross.
- Techs point lower, correction in the pair could extend upto 87.70 levels. Breaks above 89.15 could buoy bulls taking the pair higher.
- Daily Stochs have turned lower from overbought levels and show a bearish crossover, RSI is also biased lower.
- The pair is currently trading at 88.68, immediate resistance is seen at 89.15, while support on the downside is at 88.22 (Nov 23 lows).
Recommendation: Good to sell rallies around 89.0, SL: 90.20, TP: 87.0
