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FxWirePro: AUD/JPY struggles at daily cloud, good to go short

  • Daily cloud caps upside in AUD/JPY upside, only break above to see further gains.
     
  • The pair has found multiple rejections at cloud base currently at 77.
     
  • Technical indicators on daily charts are inconclusive, but hourlies support downside.
     
  • Major resistance levels - 77.0 (cloud base), 77.30 (20-DMA), 77.79 (50-DMA), 78.15 (cloud top)
     
  • Major support levels - 76.38 (Sept 14 and session lows), 76.10 (Aug 24 low), 75.95 (trendline)

Recommendation: Good to go short on rallies around 76.80, SL: 77, TP: 76.36/ 76.10/ 75.95
 

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