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FxWirePro: AUD/JPY struggles to takeout 82.00 resistance, sell rallies, target 80.46

We see strong resistance for AUD/JPY at 82.0 levels, multiple rejections seen at that level.

  • The pair has edged lower after rejection at 82.01 and is currently trading around 81.52 levels.
     
  • Techs on hourly charts biased lower:

    - 5-DMA bearish crossover on 10-DMA
    - Stochs and RSI rolled over from overbought territory, point south
    - MACD histogram below zero with bearish MACD line crossover on signal line
     
  • Supports on the downside located at 81.15 (session lows Feb 15th), 81.00 (session lows Feb 18th), 80.46 (session lows Feb 16th).
     

 

Recommendation: Sell rallies around 81.60, SL: 82.10, TP: 81.15/ 81/80.50

 

 

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