FxWirePro: AUD/JPY trades a narrow range, 20-DMA at 78.39 is strong support
AUD/JPY slides along stiff channel top resistance, downside pauses at 20-DMA support currently at 78.39. Only a break below 20-DMA will see further weakness, scope then for test of 75.60. Techs are bearish, Stochs and RS…
AUD/JPY slides along stiff channel top resistance, downside pauses at 20-DMA support currently at 78.39.
Only a break below 20-DMA will see further weakness, scope then for test of 75.60.
Techs are bearish, Stochs and RSI biased lower, MACD is showing a bearish crossover on signal line, though above zero levels.
The Aussie keeps its overnight upbeat momentum intact. Focus now on next week’s RBA policy decision, with odds of an Aug rate cut decreased after upbeat Aus CPI figures.
Bearish invalidation only above channel top currently at 79.85 levels. Break above could see test of 81.50 levels.
Immediate support and resistance are seen at 78.39 (20-DMA) and 79.85 (channel top).
