Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- AUD/JPY was trading unchanged at 89.63 at around 12:00 GMT, with session high at 90.12 and low at 88.45
- Weakness on account of bearish RSI divergence and overbought oscillators has found support at 110-EMA
- Price action is within the daily cloud and the pair remains stuck between 55 and 110 EMAs
- GMMA indicator shows minor trend is still bearish while major trend is neutral
Support levels:
S1: 87.72 (110-EMA)
S2: 84.32 (200-DMA)
Resistance levels:
R1: 90.00 (55-EMA)
R2: 91.17 (21-EMA)
Summary: AUD/JPY stuck between major moving averages, sideways grind to continue for a few sessions. Breakout will provide clear directional bias.
